Closing a small business

Closing your company

Even if your company has stopped trading, it's still registered with ASIC. This means that you must still meet the legal obligations of a company, including paying the annual review fee.

If you close your company, you don't have to continue paying your annual review fee. You also don't have to keep your details up to date. This saves you both time and money.

More information about closing your company 

Cancelling your business name

If you're not trading any more, cancelling your business name means that you don't need to renew your business name or keep your details up to date.

More information about cancelling your business name

Related links

Protect your business from unfair contract terms

Pen1 

Find out more about the new law applying from 12 November 2016 that aims to protect small businesses from unfair contract terms.

Watch the webinar video


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Subscribe to InFocus, our monthly eNewsletter, to keep up to date with ASIC-related news and information on companies and business names.

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Last updated: 28/09/2016 11:56