All Topics / Legal & Accounting / Non trading company – who pays ASIC fees?

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  • Profile photo of tom1000000tom1000000
    Participant
    @tom1000000
    Join Date: 2003
    Post Count: 74
    December 3, 2005 - 5:26 am

    Hi,

    I am setting up a trust, and it has a brand new company as trustee.

    Each year the company has to pay the ASIC renewal fee. But it does absolutely ZERO trading, no income, no expenses, nothing.

    So can the trust pay the fee instead?

    Profile photo of Mark UnwinMark Unwin
    Participant
    @markunwin
    Join Date: 2005
    Post Count: 35
    December 7, 2005 - 11:50 am

    Hi Tom,

    The cost can be paid by the trust as it relates to the running of the trust structure.

    A company trustee shouldn’t be trading in its own right and therefore will not have a bank account to pay such expenses.

    Cheers,

    Mark Unwin
    Williams Partners Pty Ltd
    http://www.wp.com.au

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