Update on Our Products and Services

- New Service Offering: Stamping on Variations to Trusts
- Closing a Company | Director ID
- Our Full Range of Products and Services + FY2023 Order Forms

New Service Offering: Stamping on Variations to Trusts

At Patricia Holdings we are passionate about providing new services that make compliance easier for you. With the complexity of Property purchases by a Trust, we have now launched a new service: Stamping on Variations to Trusts (change in trustees).

Section 54(3) Duties Act 1997, specifies the circumstances in which a transfer of dutiable property which is trust property, as a consequence of the retirement of a trustee or the appointment of a new trustee of the trust will be liable to nominal duty under section 54(3) of the Duties Act 1997, and the information required by the Chief Commissioner when assessing such a transfer.

Putting it simply, Revenue NSW requires a variation trust – a stamped change of trustee application to be submitted when there is a change to trustees which relates to a 'trust property' in New South Wales.

We can help you on this type of stamping.

What documents and evidentiary requirement we need to proceed on the order:
We need at least 8 evidentiary documents, including a copy of the executed transfer, a full copy of the stamped trust deed and a copy of the stamped contract when the property was purchased to enable the order to be processed.

How long does the stamping order take to complete?
After we received all the required documents, we will lodge them with Revenue NSW. As this is a manual lodgement, it may take up to 6 weeks to receive the duties statement.

How much does this cost?

Revenue NSW Duties is $50 if executed on or after 1 January 2009, plus
Patricia Holdings service fee is $350+GST

Please This email address is being protected from spambots. You need JavaScript enabled to view it. if you would like more information on this new service.

Closing a Company

We have seen a noticeable decrease in new company incorporations Australia-Wide in the past 8 months (Jan to Aug), compared to the same period in 2021, new company incorporations decreased from 203,385 to 189,004 - being a reduction of 7.1%.

In addition, according to ASIC insolvency statistics, the number of companies entering external administration and controller appointments have increased by 16% - from 4,235 in FY2021 to 4,912 in FY2022.

Closing a company with ASIC in Australia, is known as company deregistration or voluntary deregistration. There are several steps and processes to complete the closing of a company and our team can help you with this.

We can apply for voluntary deregistration of your company through ASIC if you no longer require the company and wish to close it. When closed you will no longer need to pay ASIC’s annual review fee.

HOW TO DEREGISTER A COMPANY?
Once an order to close your company is received, Patricia Holdings will prepare all the documentation that day during business hours and email the Form 6010 to you for signing. Once signed and returned, we will lodge the Form 6010 electronically with ASIC. Copies of the lodged documents and resolutions will be emailed to you that day.

ASIC will then notify Patricia Holdings when they have approved the application (usually about 2 weeks) via post. The application to deregister the company will then be published in the ASIC Gazette which usually takes a period of 2 months. Following this, ASIC will deregister the company and send a notification to Patricia Holdings, which we will forward to you immediately via email.

WHAT HAPPENS AFTER CLOSING A COMPANY
Once you close your company, it will no longer be operational and can no longer do anything in its own right. Upon deregistration, company officers cease their obligations to the deregistered company. However, the company would still be required to keep its books for a period of three years following deregistration.

Please click here for more information.

At Patricia Holdings, we offer a vast range of company secretarial services to support your business. Please see our extensive service range here.

Director ID

30 November 2022 deadline is approaching fast!

All company directors required to have a director ID
All company directors will soon be required to personally apply for a Director Identification Number (director ID) as part of the new ABRS. The director ID is a unique identifier that directors need to apply for once and will keep permanently.

Who needs to apply?
The new regime will apply to anyone who is a director of a company, corporate trustee, foreign company registered with ASIC and carrying on business in Australia, or various registered bodies.

This also includes all directors of SMSF trustee companies, as they set up a company to be the trustee of their SMSF.

When do directors need to apply?

Directors appointed on or before 31 October 2021 must apply by 30 November 2022.
Directors appointed between 1 November 2021 and 4 April 2022 must apply within 28 days of appointment.
Directors to be appointed from 5 April 2022 must apply for a director ID before their appointment.

What if I need help?
You need to apply for your own director ID. The fastest way to do this is online using the myGovID app.

We understand this is a new process for 2.1 million company directors in Australia. You likely will encounter some questions or uncertainties during the application.

Our team have been assisting clients to start and complete this process to obtain their director ID for a small fee of $90+GST. Click here to get help.

Our Full Range of Products and Services

At Patricia Holdings we've helped over 250,000 accountants, lawyers, and financial advisors as well as entrepreneurs set up companies across Australia since 1968.

We always strive to increase our capability to service our customers better. Please see our full range of products and Services below:

Company Incorporations:

Standard Proprietary Company
Superannuation Trustee Company
Limited By Guarantee Company
Not-For-Profit Pty Ltd Company
Unlisted Public Company
Home Unit Company
Limited By Guarantee Company

Trusts Set Up + Stamping:

Discretionary Trust Deed
Unit Trust Deed
Superannuation Trust Deed (SMSF)
Bare Trust Deed (Asset Acquisition Trust)
Child Maintenance Trust Deed
Charitable Trust Deed
Confirmatory Trust Deed
Super Fund Amendment
Super Fund Replacement
Trust Duty Stamping with Revenue NSW and VIC SRO.

Company Secretarial Services:

Standard ASIC Company Changes
Capital Restructure – share cancellation, split, and share class conversion.
Adoption of a New Constitution
Conversion of Company Type: to/from Public Company /Sole Person/Home Unit/Super Trustee
Company Name Change
Name Reservation
Common Seal
Company Register Pack
Reconstruction (up to date) of lost company register
Company Deregistration
Annual SME Compliance
Managed Company Secretarial

Trust Secretarial Services to assist you to ensure your Trust documents are up to date and changes are recorded properly.

Standard Trust Secretarial Service
Foreign Beneficiary Exclusion
SMSF Pension Commutation

Other Services:

Registered Foreign Company Services
Registered Office Address
Australian Resident Director
Business Name Registration
Business Name Search
ABN + TFN/GST/PAYG Registration

FY2023 Order Forms

Our prices and order forms have changed from 1 July 2022.

When you wish to order our products and services via email, please ensure you use the latest order forms on this page: https://www.patricia.com.au/help-centre/order-by-email

Update on Our Products and Services

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