Recently I had a client send me his regular paperwork, and he asked me to pay a bill for him. Luckily for my client, he has a fabulous and switched-on bookkeeper (yep, that’s me), and I didn’t pay the bill. Here’s why…
It was a bill from Registry Australia. For those who know who this company is, that’s enough said. For those who don’t, keep reading …
ASIC is the official government body that manages business names and renewals; it’s not done via private companies. Think of your car rego; you pay the State government; you don’t pay a third party.
These unsolicited letters remind you that your business name is soon due for renewal. Now while that is generally true, there is NO NEED to pay Registry Australia or any other third party. Often these letters will offer you a discount if you pay before a certain date to instil a sense of urgency, but it’s still a SCAM, and you are being overcharged.
ASIC themselves will send you a reminder by email 30 days before the renewal date, and you can trust that the renewal is actually due and pay the correct fees.
Registry Australia and others are data mining companies that scans ASIC registers and send reminder emails several weeks before ASIC does in the hope of enticing you to pay their high fees. If you do pay them and they renew your business name for you, then ASIC won’t send you a reminder as they have received the payment. And you’ll be none the wiser that you were just swindled.
This website has more information on the scam: https://www.smallbusinessanswers.com.au/govtlegal/registry-australia-scam/
Paying via a third party such as will cost you considerably more than paying ASIC directly. At the time of writing, Registry Australia charges $99 for a one-year renewal and $199 for a three-year renewal; ASIC’s fees are only $42 and $98 for the same periods.
There are a lot of companies who charge business renewals at an inflated price, including, but not limited to:
Registry Australia Pty Ltd
Registration Pty Ltd
The only saving grace on these letters is that they do state that they are “independent of ASIC” and way down at the bottom “This is not a bill. You are not required to pay any money.” But who reads a document in its entirety???
ASIC is aware of these companies, and it states on their website that you do not need to renew your business name via a third party and highlights these services charge a fee that is higher than the actual ASIC fee.
Here are two links to ASIC’s website about these scams:
Be savvy and don’t get caught out!
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