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Ballarat Accountants: Obligations of Company Directors and Officers

At Sky Accountants Ballarat & Bookkeepers Ballarat, our goal is to empower you to become a better, more finance-focused and well-rounded entrepreneur. Contact us at info@skyacc.com.au or 1300 328 855

Small businesses can be established and operate in Australia in different ways. Many
businesses opt to run as registered companies. ASIC is responsible for company
registrations
 and for ensuring that companies and company officers comply with the
Corporations Act 2001. Once a company is registered, it can operate across
Australia without having to register in each state or territory. 

A registered company is a legal entity separate from its directors and members /
shareholders. It exists until deregistered and has the same powers as
individuals. Companies are entitled to privileges such as corporate tax rate
and limited liability and can enter into contracts, hold property and sue and
be sued. Companies have assets and money that must be used for the company’s
purpose.

Company officers are responsible for managing businesses and companies. A company is
required to have at least one director and secretary, unless it’s a proprietary
one. They are the company officers who are required to make sure that the
company operates within the law.

Directors and company secretaries must be at least 18 years of age, must ordinarily
reside in Australia and may be liable for debts incurred should the company
trades while insolvent. They are disqualified from managing a company if they
are an undischarged bankrupt, have been convicted of dishonesty offences or
have been disqualified by ASIC from managing a company.

At Sky Accountants Ballarat & Bookkeepers Ballarat, our goal is to empower you to become a
better, more finance-focused and well-rounded entrepreneur. Contact us at info@skyacc.com.au or 1300 328 855

As an officer of a registered company, you should have a registered office in
Australia and inform ASIC of the location. You must have a principal place of
business and must disclose all personal details of directors and secretaries.
You must keep up-to-date financial records and be able to explain the company’s
transactions and financial position. You must also pay relevant fees to ASIC
and notify them of any changes such as changes in office location or company
share issues.

You must receive annual statements and complete solvency reports and ensure that the
company is solvent and can pay its debts on time. As a company officer, you
must use information appropriately and must not illegally phoenix assets of a
company.

ASIC is responsible for the registration, renewal and administration of business names
throughout Australia. You need to register if you are conducting a business and
not trading under your name. You don’t need to register if your business name
is your name, a registered company and the business name is the company’s name
or a partnership and the business name consists of all the partners’ names. 

Ballarat Accountants

As you look for different ways to grow and improve your business, seeking professional advice could prove to be an important and helpful decision.

You can click here to speak to a businessaccounting and bookkeeping firm. We also offer hospitality business consultation and mortgage services. We will give you a call to know more about your needs. We will explain to you how we can improve your business.

We would love to help you formulate investment strategies and streamline your processes to take your business to the next level.  Our goal is to help you grow your business, find ways to invest more and increase your productivity.

Email Address: info@skyacc.com.au

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Phone: 1300 328 855
Office Address: 
902 Howitt Street, Wendouree, Victoria 3355, Australia
Postal Address: PO Box 2234, Bakery Hill, Victoria 3354

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Business Accountants Sunbury | Sunbury Accountants | Sunbury Accounting Firms | Sunbury Bookkeeping Firms | Sunbury Bookkeepers | Restaurant Accountants in Sunbury | Accountants for Manufacturing Business in Sunbury | Farm Accountants in Sunbury | Accountants for Medical Professionals in Sunbury | Accountants for Tradies in Sunbury | Company Accountants in Sunbury | Company Bookkeepers in Sunbury | Casino Accountants in Sunbury | Spa Accountants in Sunbury | Cafe Accountants in Sunbury | Hotel Accountants in Sunbury | Accountants for Builders in Sunbury | Sunbury SMSF Accountants | Xero Accountants Sunbury | Sunbury Mortgage Brokers | Sunbury Financial Advisers

 

Business Accountants Gisborne | Gisborne Accountants | Gisborne Accounting Firms | Gisborne Bookkeeping Firms | Gisborne Bookkeepers | Restaurant Accountants in Gisborne | Accountants for Manufacturing Business in Gisborne | Farm Accountants in Gisborne | Accountants for Medical Professionals in Gisborne | Accountants for Tradies in Gisborne | Company Accountants in Gisborne | Company Bookkeepers in Gisborne | Casino Accountants in Gisborne | Spa Accountants in Gisborne | Cafe Accountants in Gisborne | Hotel Accountants in Gisborne | Accountants for Builders in Gisborne | Gisborne SMSF Accountants | Xero Accountants Gisborne | Gisborne Mortgage Brokers | Gisborne Financial Advisers

Phone: 03 97444522
Sunbury Office Address: 
Suite 13, 33-35 Macedon Street, Sunbury, Victoria 3429, Australia
Gisborne Office Address: 
45 Hamilton Street, Gisborne, Victoria 3437, Australia

Postal Address: PO Box 270 Gisborne Victoria 3437

 

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