Small manufacturing companies and other small businesses can now comply with the requirements of the Australian Securities and Investments Commission (ASIC) automatically online using a new simplified compliance service provided by SmartCorp.com.au
SmartCorp, a new company based in Sydney and operating across Australia, have launched their internet service at www.smartcorp.com.au
The service is designed for small private companies needing to save time and money by streamlining the way they comply with ASIC.SmartCorp say that the service is suitable for professionals including architects, engineers and surveyors, doctors and dentists, trades people including building contractors and subcontractors, small manufacturers and retailers.
Using the new service, companies will receive information and lodge forms electronically over the internet to comply with the commission. People can use this new company compliance service directly without assistance from their accountants.
SmartCorp say that people can use the comprehensive service without having to be familiar with how ASIC regulates companies and requires them to comply.Using SmartCorp.com.au, they can:
- Electronically lodge information about their companies automatically with ASIC without having to complete and lodge paper forms
- Receive annual statement packs and other correspondence from ASIC electronically
- View their company records on screen and print them
- Download company data and debt reports from ASIC
As this new compliance service is based on the World Wide Web, they can use it with almost any computer and operating system, and without downloading and installing any software, upgrades or fixes.
SmartCorp will store their company information on secure and reliable computer servers and back it up daily. Constantly updated information from ASIC will be provided to them through the new compliance service. Companies will pay an annual fee on line by credit card to use the new compliance service and will access the service by user name and password.
SmartCorp will act as a compliance agent for the companies. It will collect each company's annual statement and invoice statement from ASIC and forward them by email to the company for review. If the anniversary date of the company's registration passes and the annual statement is not received, SmartCorp will re-request it from ASIC.
During the year, companies will use the SmartCorp web site to comply with the commission by updating their company information about such things as the retirement of a director or the issuing of new shares.
When a company change their information on the web site, SmartCorp will email documents to the company, which are needed to effect those changes for the commission.SmartCorp will monitor the lodgment of forms with ASIC and remind companies by email, when it is time to lodge a form or pay a fee on time to avoid being fined.