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Each year, on the anniversary of your business registration—or every three years, depending on your chosen payment term—you'll receive a ‘business name renewal’ notification. ASIC, the governing body, typically alerts you via email 30 days before your renewal is due. For 2024, the re-registration fees are $42 for one year or $98 for three years if renewed directly through ASIC.
As your business name’s renewal date approaches, you may start receiving postal reminders from third-party providers. These companies tend to charge significantly more than the direct fees set by ASIC. For example, ‘Registry Australia’ may charge $99 for a one-year renewal or $189 for three years, inclusive of ASIC's fees. Another provider, TradingAs, might offer rates such as $128 for one year or $262 for three years, PLUS the standard ASIC re-registration fee.
While these third-party services promise convenience, especially if managing renewals seems daunting, it can work out to be significantly more expensive than renewing your business name directly through ASIC.
It is always best practice to reregister your business name directly through ASIC. To avoid missing your renewal notice, keep your business details current on ASIC Connect. This direct approach not only saves you money but also simplifies the process, eliminating the need for intermediaries.
While we do recommend renewing directly through ASIC, we also remind you to be mindful of scam emails from scammers such as ‘ASIC Messaging Service’. These emails will often arrive at the same time as your actual email from ASIC, (meaning scammers are looking up business renewal dates in order to appear genuine).
These emails might seem legitimate but remember that ASIC will never ask you:
Stay informed about the latest scams by visiting the ASIC website here.
If you receive a suspicious email or if you’re unsure about any part of the renewal process, don’t hesitate to contact us for clarification at (08) 9071 2173 or via email at admin@smithshearer.com.au.
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