Newsletter - January 2009
The team at Corporate Express wishes all our clients a happy New Year. 2009 promises to be a year of challenges and change.
We have a lot planned for 2009 and are looking forward to sharing with you new products, the continuation of our Business
Development Series and a renewed dedication to providing you with the best service possibleEEEtarting with our Client Charter.
The Corporate Express Client Charter
As a demonstration of our commitment to service excellence this
is what the team at Corporate Express promises you:
- Personal contact with a knowledgeable team member
from 8.30 am to 6.00 pm
- Quick, friendly and reliable service
- If we can't answer your question immediately we will
respond to you within the agreed time
- The details set out in your instructions will be cross-referenced
with the information on our database and any inconsistencies
will be reported to you for verification
- To correct any of our mistakes openly, honestly and quickly
- Your call will be answered within 3 rings
- For company incorporations, receipt of the ACN within
45 minutes unless, for example, the chosen name is subject
to manual review by ASIC
- Manual lodgments with ASIC and OFT will be made on the
day we receive the instructions (3.30pm cut-off)
- In respect of incorporation orders received before 3.00pm,
the corporate registers will be sent to you that day by
courier, express post or registered mail. If a rubber seal
is requested the corporate register will be sent to you
the following day
- To keep you informed and updated of any developments
in ASIC compliance and other matters we believe are of interest
to your business
Our Additional Telephone Number
Save money! You can now call us for the cost of a local call
on our new 1300 number - 1300CORPEX
Who can be the Trustee of a Self Managed Superannuation Fund when at least one member is a minor?
The answer is the trustee should be individuals. Reasoning:
- If a self managed superannuation fund ('SMSF') has individual trustees each member of the fund must be a trustee.
- Section 17A(3)(c) of the Superannuation Industry (Supervision) Act 1993 ('SIS' Act) provides that where a minor (a person under the age of 18) is a member of a SMSF, the parent, guardian or legal personal representative of the minor must be a trustee in place of the minor member.
- If a SMSF has a corporate trustee each member must be a director of the trustee company.
- The Corporations Act requires a director to be 18 years or over.
- Section 17A(3)(b) of the SIS Act provides that if any member is a minor or is under some other legal disability the legal personal representative of the member is permitted to be a director of the trustee company in place of the member.
- The issue arises in respect of who is a legal personal representative for the purposes of the SIS Act. The term is defined under the Act but is drafted in an exclusive manner by the use of the word 'means'.
- 'Legal Personal Representative means the executor of the will or administrator of the estate of a deceased person, the trustee of the estate of a person under a legal disability or a person who holds an enduring power of attorney granted by a person' (SIS Act).
- The better view appears to be that a parent or guardian of a minor does not fall within the definition of Legal Personal Representative.
- It is unclear what position the ATO takes in relation to this issue.
Lodgments of Form 205 - Change of Company Name now on-line
Corporate Express can now lodge Change of Name Forms electronically using Leading Edge, our in-house lodgment program.
What does this mean for you?
- Lodgments will be faster and can now be made at any time during the working day.
- For urgent lodgments just fax us the signed form. We no longer need to be appointed as an authorised signatory to the company. This means a cleaner corporate register.
- Your new certificate will be sent to you in an electronic format.
Update on the Committee of Business Incorporators
Australia Inc (CBIA Inc)
In our December issue we announced CBIA Inc had been invited
to discuss the implications of the proposed second tranche
of the AML/CFT Act with Senior Legal Officers of the Federal
Attorney-General's Department and AUSTRAC.
A conference was held in December last year. During the conference
Judi White of Corporate Express, the current President of
CBIA Inc, had the opportunity to discuss the nature of the
ASIC registry industry and in particular the role played by
ASIC lodging agents.
Set out below are some of the outcomes of the meeting which were based upon a discussion of the submissions lodged by CBIA Inc.
- A decision to include ASIC in further discussions.
- The commitment to compare the role of ASIC registry agents with those of the United Kingdom.
- The acknowledgment by the Attorney-General's Department that the terms used in the proposed second tranche designated services are too wide and require clarification.
- A commitment to consider the temporal and duplication issues relating to the verification of identity.
It remains the goal of CBIA Inc to work towards obtaining a workable framework for our industry and those of our clients.
Should you wish to discuss the proposed changes to the AML/CTF
Act or the other objectives of CBIA Inc please contact Judi
on 1300 886 939 or via email
Accounts Online
Over the next few months we will be developing a further enhancement to our website - Accounts Online.
If you wish to make any contributions to the features Pam Nosti
would love to hear from you on 1300CORPEX or email
At this stage it is proposed that the facility will include:
- The ability to view all invoices online both paid and unpaid.
- The ability to make payments on line.
- The automatic creation and transmission of an electronic remittance advice.
The Corporate Express Business Development Series - Upcoming events
We are pleased to confirm that Greg Vale of Binetter Vale Lawyers, accredited specialists in business and personal tax will soon be presenting a paper to interested clients as part of our Business Development Series.
Our next newsletter will also include an article prepared by Greg on new developments in respect of SMSF's.
Binetter Vale supplies and updates our SMSF deeds, superfund upgrades, pension implementation packs, deeds of change of trustee and now custodian deeds and loan agreements.
To register your interest in attending Greg Vale's presentation
please either telephone Robert on 1300CORPEX or email
Disclaimer
The information provided in this document is for your general
information only. It is not intended that anyone adopt this
information to their personal circumstances without first seeking
professional advice.
To view or download this newsletter in pdf please click here
|
