If your business has ceased trading or if you are looking to
wind down operations and cease business, there are a number of
options which may be available to you. The first and most important
step is to determine whether your company is
solvent. A company will be
considered solvent if it is in a position to pay all of its
debts when they fall due for payment.
One debt that is important to remember is the annual review fee
payable to ASIC each year while your company is registered with ASIC (which will be
the case until it is deregistered). The fee differs depending on
the type of company, but currently, for private companies it is
$273, and for public companies it is $1,267.
Whether your company is solvent or insolvent will affect your
options available for winding up. This article focuses on the
options available if your company is solvent.
