Deregistering a Company

You may wish to voluntarily deregister a company that is no longer trading, especially if you no longer require it. Deregistering a company means that it ceases to exist as a legal entity. Ensure all tax and superannuation obligations are up to date before voluntarily deregistering a company. This includes:

  • finalizing the end of year reporting, for example, Single Touch Payroll (STP) reports
  • paying all outstanding debts
  • Company is not a party to any legal proceedings
  • The assets are worth less than $1,000.
  • finalizing the company’s superannuation affairs, including paying superannuation guarantee amounts and charges
  • lodging all overdue and final taxation forms, including tax returns, activity statements, fringe benefits tax returns and taxable payments annual reports
  • Finalizing lodgement and other obligations if the company is part of a goods and services tax (GST) or income tax (IT) group or a partner in a partnership.
  • ensuring a replacement trustee is appointed if the company is acting as the corporate trustee of a superannuation fund or trust

Directors of a company may still be liable for some debts incurred before deregistration. For example, if a company does not meet its PAYG withholding or superannuation guarantee charge (SGC) obligations, the ATO may recover these amounts from former directors of the company under the director penalty regime.

Book an appointment with TSK Accountants by calling (03) 8721 9989 or sending an email to info@tskaccountants.com
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