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Hi

It gives us great pleasure to inform you that on 14th Feb 2017 we will complete 10 years of servicing and digitally disrupting the financial industry.

Thank you for supporting us for the last 10 years!

We have come a long way, but are only 10 years old and have a lot of energy and a lot of fresh ideas. We have many new innovative - "Australia's First" - plans for the coming year and we promise we will be a leader in technology in all our chosen sectors. And YES we will be digitally disrupting with our technology!

For example we will be soon introducing an Actuarial Certificate for only $55 well before 1st July 2017. It is our understanding that all pension SMSF's with member balances of more than $1.6M will need an Actuarial Certificate from 1st July 2017.

We will not only be providing top class and complying legal documents in the most advanced technological way but will be doing so with minimum human costly intervention to ensure that all savings are passed on to the ultimate end users.

 

FREE ABN Lodgement with Company Formation

Today we are announcing ABN integration with our company formation module.

When you create a company online on www.trustdeed.com.au, we can along with your company formation (form 201) with ASIC, lodge your ABN and/or GST and PAYG Withholding applications (ABN Bundle) with Australian Business Register (ABR) online for you.

This service is fully automated, this means that we can lodge your ABN application 24/7 along with your company formation form with ASIC. We have been successful in achieving this similar integration with our SMSF product and all our trust products as well and will be releasing them shortly. Very soon we will be able to stamp all your trust deeds for you instead of you sending the documents to various authorities. This will be a again a free service to you.

 

Our charges for the ABN Bundle are CURRENTLY FREE (Introductory Offer)

All you need to do is, while filling out the form for company registration, select ABN bundle option, provide additional details (such as nature of business / TFN of Associates etc) and your ABN, GST and/or PAYG withholding application will get lodged simultaneously with your company application.

Our technology allows data from our company formation form to pre fill ABN application form on ABR website. This means data of your new company on our website replicates on the ABR website ABN application form for your new company.

In other words, a machine copies the data which you enter on our website to form a company and pre fills the ABR website form, behind your screen (which you do not see) and the process is exactly similar to you filling out the information on the ABR website. Think as if two forms are being filled by you together (one form 201 for ASIC and one ABN form on ABR website) at the same time, when you are ordering a new company from www.trustdeed.com.au

 

How does it work?

Our single form creates a company first with ASIC, collects the ACN from ASIC and then pre -fills ABR online form with ACN of your company received from ASIC along with other company information which you entered on our website.

When you are completing our online company formation form, you are also filling out the company ABN online form on ABR website as our technology pre-fills the ABR online form for you as you progress on our form from one page to the next page.

You not only save time (approx 20 minutes for each company) but if you follow our process there are no duplication errors or typing errors in your ABN application as our technology maintains accuracy of your information.

This also means that if you misspell anything on our company formation form, the same error will be reflected on ABR website as well. Hence, we recommend that before payment page, you must thoroughly check all the details on the confirmation page and / or preferably print the confirmation page for future reference as it is a copy of what is being lodged with ATO on ABR website.

 

ABN bundle package includes:

  • a certificate of ABN registration issued by the Australian Business Register;
  • Tax File Number (TFN) for the company which will be sent to the company's nominated address for service and receipt of notices; and
  • the ABN (and/or GST and PAYG Withholding) will appear on ABN Lookup

To celebrate our 10 years, we have decided to make this facility free for our users.

 

What surprises us the most; Why advisors continue to use our competition for company formation as either they do not have ABN capability and if they do, their price is almost double to ours.

Below is a comparison of our competition, most of them do not have automatic ABN capability or offer the same service at a very high price, for example Top Docs is 66% more expensive and Cleardocs is 111% more expensive.

Surprisingly everyone in the below table offer the same product - "ACN from ASIC" in most cases constitution can be replaced by "freely available replaceable rules". This means that Company registration certificate is just like an air ticket on Qantas - say from Sydney to Melbourne - no product difference. Yet, it seems our competition is not passing on technological savings to their clients. We wonder why.

 

#

Entity

Company Formation

Automated

ABN

Total Price

1

CCH / Smartcorp

119.00

No Capability

119.00

2

Patricia Holdings

154.00

176 (Manual)

330.00

3

Cleardocs

137.50

44.00

181.50

4

DBA Lawyers

330.00

No Capability

330.00

5

Incorporator.com.au

196.00

No Capability

196.00

6

NTAA Corporate

143.00

No Capability

143.00

7

Law Central

119.00

No Capability

119.00

8

MYOB

107.00

No Capability

107.00

9

Reckon Docs

153.00

No Capability

153.00

10

Topdocs

143.00

Free

143.00

 

Trustdeed.com.au

86.00

Free

86.00

The above information is collected from respective websites at the time of preparing this newsletter

 

Does my company need an ABN?

Applying for ABN is not mandatory. However, when you deal with Australian Tax Office you will need an ABN. When you supply goods and Services, you are required to charge Goods & Services Tax (GST) by law if your annual turnover is over $75,000. Also when you purchase goods and services, you pay GST, to claim or remit GST, you need an ABN.

 

What do I do if my ABN is refused and I receive a reference number?

In some cases, if your identity or the identity of an associate cannot be verified or they may require more information, ABR may refuse the application and issue a reference number. The ABR will review your application within 20 business days.

If unsuccessful you will receive a refusal number which states the reason for refusal. You will also receive a letter within 14 days confirming your application has been refused.

 

How many companies have applied and Received ABN on our website?

This service was launched on our websites on 17th November 2016 and below are some interesting statistics till the time of writing this email.

 

Various Options

Companies Created

Percentages

ABN option not chosen via our website

706

63%

ABN option Chosen

415

37%

Total Companies Formed

1121

100%

 

From those who opted for ABN from our website

 

 

ABN Received from ABR

399

96.14%

ABR unable to identify one or more Associates

11

2.65%

Refused Phone number not Valid mobile number

1

0.03%

Refused Email not Valid

2

0.05%

Refused Address contains only Numbers or certain terms

2

0.05%

Total ABN Option Chosen from our website

415

100%

In our testing, it takes approx 20 minutes to apply for an ABN on ABR website, we have saved 133 human hours and if the cost of junior staff is $30 per hour including all costs such as Super and fixed costs, then we have saved our clients $3,990 in the past two weeks.

This is at 37% rate of our clients opting to apply for ABN from our website and if all the clients took this option, we would have saved for say 1,000 companies (balance companies say are trustees of SMSF / Trusts), 333 man hours or 41 working days or $10,000 of wasted salary on something as simple as a machine can do.

We invite you to use this free service, it is our way of thanking you for supporting us over the last 10 years.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Let us show you...

How to reduce SMSF Audit time to Half

 

           We know that auditing an SMSF is not easy

Onlinesmsfaudit.com.au presents to you a cutting edge cloud based SMSF audit software technology which streamlines your business and you work smarter & improve your results.

The software is very easy to learn - either via workshops at our office in Sydney or via our Webinars or via our training online videos - all details like when our next webinar, workshop etc. are being held is on the website. We can even come to your office to show you.

Now Integrated with BGL 360

Two Funds for free for trial on registration

Learn how our audit software can benefit you and your clients. Attached is a pamphlet with all the features the online auditing tool has to offer.

 

 

Click here to learn how to audit an SMSF in half the time 

 


 

Disclaimer

The advice provided on this newsletter and the links to the websites is general advice only. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this advice you should consider the appropriateness of the advice, having regard to your own objectives, financial situation and needs. If any products are detailed on this website, you should obtain a Product Disclosure Statement relating to the products and consider its contents before making any decisions. 

Deed Dot Com Dot Au Pty Ltd disclaim all and any guarantees, undertakings and warranties, expressed or implied, and shall not be liable for any loss or damage whatsoever (including human or computer error, negligent or otherwise, or incidental or consequential loss or damage) arising out of or in connection with any use or reliance on the information or advice on this newsletter. The reader must accept sole responsibility associated with the use of the material on this newsletter, irrespective of the purpose for which such use or results are applied. The information on www.trustdeed.com.au  is no substitute for financial advice.

 

 

 

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