Overview
ASIC have a recommended set of steps to complete in the processing of your companies annual reviews.
See the ASIC website for more information.
The recommended steps to be completed are as follows:
- Receive Annual Review
- Check and Update Company Details
- Pass Solvency Resolution
- Pay Annual Review Fee
Each year ASIC is required to provide a company with its Annual Statement. This statement must be provided within 14 days of the Annual Review Date. The Annual Review Date is the anniversary of the company registration date, however the review date can be changed under certain circumstances.
ASIC must be contacted within five days after the review date if the annual statements have not been received.
The Annual Company Statement Package comprises of the:
- Annual Company Statement Form 480; and
-
Annual Fee Invoice.
The Annual Fee must be paid within 2 months of the Annual Review Date.
Receive the Annual Review
CAS 360 will automatically download annual reviews from ASIC every day.
When received, CAS 360 will update your Documents screen to include Form 480 and the Annual Statements will also display in the Annual Reviews screen.
Check and update your company details
Check the company details displayed on the Annual company statement carefully to ensure the information is correct.
If any details are incorrect, lodge the appropriate Company Changes forms. This includes changes to your addresses, share structure, officeholders and members.
CAS 360 has a unique function which can easily compare your CAS 360 data with the information on the Annual Company Statement and advise users of specific inaccuracies.
When an annual review is received, CAS 360 will automatically compare your CAS 360 data with the information on the Annual Company Statement.
If the data matches 
will display.
If there are any inaccuracies 
will display.
Click or to display a comparison report.
ASIC late fee summary
Late review fee
You must lodge changes with ASIC within 28 days of the annual statement issue date, or a further late fee will apply.
See ASIC Website for the latest late fee rates
Late lodgement fee
While you only receive one annual statement each year, changes to your company details must be lodged as they occur, to avoid a late lodgement fee.
See ASIC Website for the latest late fee rates
A company may be charged both a late lodgement fee and a late review fee
Pass a solvency resolution
Company directors must pass and store a solvency resolution within two months of the annual review date.
The solvency resolution may be a:
- Positive solvency resolution - passed when directors are certain the company can pay its debts when they are due.
- Negative solvency resolution - passed when directors believe the company cannot pay its debts when they are due.
CAS 360 will automatically generate a Solvency Resolution document with the company's annual review documents.
In the Review screen, simply click
Pay your annual company review fee
To keep the company registered, the total amount on the invoice must be paid by the due date.
Depending on the company type, the annual review fee will change:
See ASIC Website for the latest Annual review fee rates
Late payment fee
Late fees apply if the annual review fee is not paid on time:
See ASIC Website for the latest late fee rates