InFocus August 2023 - Volume 32 Issue 6
- Renew your business name through our Pay Now service
- New transactions available in the ob体育 Regulatory Portal
Renew your business name through our Pay Now service
To renew your business name quickly and easily, we recommend our鈥�'Pay Now'鈥痵ervice. We'll send you a reminder notice by email 30 days before your renewal is due.听听
When using this service, you have the following options for paying your renewal:听
- Pay immediately via credit card, or
- Pay later - request an emailed invoice to make your payment via BPAY or Australia Post.听
Avoid your business name being cancelled 鈥� take action now.听
The most common reason why ob体育 initiates cancellation of a business name is because the business name renewal has not been paid by the due date. 听
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If you have chosen to 'pay later', it鈥檚 important to act quickly to avoid your business name being cancelled. Check your invoice and ensure payment is made by the due date. 听
Learn more about renewing your business name on our website.听
New transactions available in the ob体育 Regulatory Portal
On Monday 31 July 2023, new transactions were added to the :听
- Apply for ob体育 consent to resign as an auditor of a public company (Legacy鈥�Form 342),听
- Apply for early destruction of books (Legacy鈥�Form 574),听
- Submit notification to rely on ob体育 Corporations (Business Introduction Services) Instrument 2022/805, and
- Notify ob体育 or apply to ob体育 about company auditor appointments.听
You will need to submit these transactions through the ob体育 Regulatory Portal.听
The portal features structured online smart forms with mandatory fields and questions that make it easier for submitters to ensure the information we require is provided upfront. 听
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All relevant ob体育 web pages and Regulatory Guides (RGs) have been updated to align with the new lodgement channel for these transactions.听
This includes:听
- Regulatory Guide 26 Resignation, removal and replacement of auditors (RG 26) - which relates to the Apply for ob体育 consent to resign as auditor of a public company transaction.听
- Regulatory Guide 129 Business introduction or matching services (RG 129) - which relates to the Submit notification to rely on ob体育 Corporations (Business Introduction Services) Instrument 2022/805 transaction, and听听
- Regulatory Guide 81 External administration: Early destruction of books (RG 81) - which relates to the Apply for early destruction of books transaction.听
RG 81 has also been updated to:听
- reflect law reform implemented in 2017 to the Corporations Act 2001 in relation to the last external administrator of a company retaining all books of the company and of the external administration of the company; and听
- provide relevant guidance for applying to ob体育 for consent to the early destruction of the books (already being applied by ob体育).听听
If you don鈥檛 already use the portal for other transactions, you鈥檒l need to鈥�. Once you鈥檝e registered and logged in, you can act for yourself or connect to other entities to act on their behalf.听
If you need help using the portal, visit our for step-by-step user guides, FAQs and videos.
AFS Licensees 鈥� changes you must tell us about听
You must notify ob体育 of any changes to your Australian Financial Service (AFS) licence, such as when:听
- 测辞耻谤鈥�details change, for example,鈥痳esponsible managers, address and contact information听
- you appoint a鈥�financial adviser鈥�or鈥�authorised representative, or change their details听
- you cease a鈥�financial adviser鈥�or鈥�authorised representative听
- you鈥�appoint an auditor听
- you鈥�change control of the AFS licensee听
- your financial advisers comply (or fail to comply) with the鈥�professional standards for financial advisers.听
For notification periods, fees and how to make changes, see鈥�lodgement requirements for AFS licensees.听
Is my company in financial difficulty?
Some signs that your company might be in financial difficulty include:听
- poor cashflow听
- ongoing losses听
- issues obtaining finance听
If you think your company is in financial difficulty, it's important to get professional accounting and legal advice as soon as possible.听
Learn what to do if your company is in financial difficulty.
ob体育 Financial adviser exams听
To date 20,570 individual candidates have sat the exam. Over 19,020 (92%) of candidates who have sat the exam have passed, demonstrating they have the skills to apply their knowledge of advice construction, ethics and legal requirements to the practical scenarios tested in the exam.听
Of those who have passed:听
- Over 15,810 are recorded as current financial advisers on ob体育鈥檚 Financial Adviser Register (FAR).听
- Over 2,990 are ceased advisers on the FAR and may be re-authorised in the future.听
- Over 950 passed while completing their professional year of work and training.听
Financial adviser exam sittings in 2023
For the dates of all 2023 exam sittings, and details around eligibility to sit the exam, visit our website.听
Your guide to tax time
The ATO small business tax time toolkit 2023 is now available. The toolkit includes updated links to useful information, tools, calculators, learning resources and other support and services. 听
You will also find updated fact sheets on:听
- Home-based business expenses 鈥� if you鈥檙e claiming a deduction for the costs of using your home as a place of business听
- Motor vehicle expenses 鈥� if you鈥檙e claiming a deduction for motor vehicle expenses for your business听
- Travel expenses 鈥� if you鈥檙e claiming a deduction for expenses you incur when travelling for your business听
- Digital product expenses 鈥� if you鈥檙e claiming a deduction for the cost of digital products used in running your business听
- Using a company鈥檚 money or assets 鈥� if you鈥檙e a director or shareholder of a company that operates a small business, and you take money out of your company or use its assets听
- Pausing or permanently closing your business 鈥� if you鈥檝e had to pause or permanently close your business.听听
For more information, visit and