Not for Profit (special purpose) companies limited by guarantee save ASIC annual fees

Many Not for Profit (Non Profit) companies limited by guarantee should qualify as Special Purpose Companies with ASIC.

A Special Purpose Company qualifies for reduced annual review fees from $1000 pa to $40 pa (a not insignificant saving!)

You can advise ASIC that a company is a Special Purpose Company on the Form 201 Application for Registration. Alternatively, at a later date, you can lodge a Form 484 Change to company detailsThere are number requirements for a Not-for-profit company to qualify as a Special Purpose Company – and all 3 requirements are addressed in our template constitution for companies limited by guarantee.

A company that ceases to be a Special Purpose Company must notify ASIC of this change using a Form 484 B3.

It makes good sense to enage our specialist Not for Profit lawyers.

 

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