InFocus December 2021 - Volume 30 Issue 10
- Scammers impersonating ASIC
- We're still online this festive season
- 2020-21 Cost Recovery Implementation Statement
- Events
- Small Business
Scammers impersonating ASIC
ASIC has received reports that consumers are being targeted by scammers impersonating ASIC employees. Scammers are offering to help consumers recover funds, usually lost via an initial scam. In this follow-up scam, they ask for payment to help retrieve funds.
ASIC would never ask for money or crypto-currency to retrieve funds that have been invested or lost. ASIC will never request direct transfers of money into a personal bank account or crypto-wallet.
Tips to protect yourself
- Be cautious when clicking on hyperlinks embedded in SMS and emails - don't click on links or attachments in emails from unknown sources.
- Keep your personal information and passwords secure - don't share your password with others and change your passwords regularly.
- Be suspicious of unsolicited contact, especially when the caller asks for money.
- If you’ve opened an email that looks suspicious, don’t click any links, open any attachments or reply to it.
- Be very cautious of requests to allow remote access to your computer.
Report scams
If you notice ASIC’s logo or references to Moneysmart and ASIC staff on a company’s promotional materials submit a report of misconduct to ASIC. Include a link to the website or a screenshot.
You can also make a report to the Australian Competition & Consumer Commission at Scamwatch.
Read more about scams on our website.
We're still online this festive season
Our offices will be closed from 5:00 PM Friday 24 December 2021 (in each state or territory), re-opening at 8:30 AM Tuesday 4 January 2022.
During the break, if you have an existing Australian Business Number (ABN), you can apply to register a business name via the Business Registration Services (BRS) or ASIC Connect.
You can also lodge documents with us online, use our online services and use ASIC Connect (via asic.gov.au) to search our registers and purchase any documents you need.
A reminder for registered agents to have arrangements in place to ensure that your customers won’t incur late fees during the closedown period.
Find out more information about our Christmas closedown and the BRS.
Avoid late fees this new year!
The lead-up to the holiday season is often so busy it can be easy to overlook important deadlines. Before the end of the year, make sure all your company details are up to date. Otherwise, your first task in the new year might be dealing with a late fee!
Company officeholders are responsible for making sure the company lodges their documents on time. Most updates need to be made within 28 days of the change. If ASIC is notified outside of this time period, you'll be charged a $83 late fee (if it's up to a month late) or even a $344 late fee (if it's over a month late).
Paper forms are only considered lodged once received by ASIC. If a paper form is due for lodgement before the Christmas closedown, and we don’t receive it before 5:00 PM AEDT 24 December 2021, a late fee will apply.
Read more about lodging documents during Christmas closedown on our website.
For information about the changes you need to let us know about, see Changes to your company.
If you want to check or update your company details, you can do so by logging into your account.
#Follow us in 2022
Want to keep up to date with the latest company and business name information? Following us on Facebook and Twitter gives you quick and easy access to current events, helpful tips and other useful information. Regular posts include quick tips for your business name and company.
On YouTube you'll find handy videos and tutorials that step you through some of our most common transactions.
Subscribe to our YouTube channel
ASIC Annual Report out now
ASIC’s Annual Report for the 2020-21 financial year is now available on our website.
The report is a record of ASIC’s activities and performance for the previous financial year.
2020-21 Cost Recovery Implementation Statement (CRIS)
ASIC published its 2020-21 Cost Recovery Implementation Statement (CRIS) as required under the industry funding model.
The statement details ASIC’s estimated levies by industry sector and subsector. ASIC is well aware of the challenges and difficulties facing many businesses due to the COVID-19 pandemic, and their concern has been highlighted in the industry feedback. We will continue to consider applications for waivers on a case-by-case basis.
The actual levies will be published in December 2021 and invoiced in January 2022.
Read more in ASIC’s media release.
Events
Webinar: Introduction to the ATO’s Digital Partnership Office
Calling all Information brokers and ASIC Digital service providers (DSPs) - join our introduction to working with the Australian Taxation Office (ATO) webinar on Wednesday 15 December at 2:00 PM AEDT.
The Digital Partnership Office (DPO) is the entry point for digital service interactions at the ATO and will provide essential information to help you prepare for implementing future digital services, including the Australian Business Registry Services (ABRS).
This initial webinar will cover essential information about the DPO including:
- technical support they provide,
- testing and verification processes,
- security requirements, and
- communication channels.
Small Business
ASBFEO and ABA take on Scams Awareness Week
The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) joined with the Australian Banking Association (ABA) to support Scams Awareness Week – highlighting Australian businesses lost $128 million to scammers last year, and the steps small businesses can take to protect themselves. Read the article on the Small Business Connections website.
Five rules to good record keeping
Good record keeping can help you better run your business and reduce the time you spend on admin. Do you know the five rules for record keeping? Find out more, including detailed business record-keeping requirements, at ato.gov.au/recordkeeping
New Fair Work Ombudsman website is live
The Fair Work Ombudsman (FWO) launched their new website. With an updated design and structure, it’s now easier to find the information and advice you need, anytime, and on any device.
The new look fairwork.gov.au was created based on customer feedback, research and best practise, and includes:
- Re-organised information and resources into clearer, simpler pathways
- Two new sections on starting employment and employment conditions.
The content and functionality of most tools and resources are unchanged, including the Pay and Conditions Tool.
If you use My account, you’ll notice it looks a little different too, but with the same functionality as before.
There will be some further changes to My account and you can subscribe to emails to keep updated.
