What Is an Annual Return for a Company in Australia? ASIC Requirements Explained
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A company annual return (now part of the ASIC Annual Statement) is a yearly requirement for Australian companies to confirm and update their company details with the Australian Securities and…
A company annual return (now part of the ASIC Annual Statement) is a yearly requirement for Australian companies to confirm and update their company details with the Australian Securities and Investments Commission (ASIC).
This process ensures ASIC’s public register remains up to date. It’s separate from your income tax return and is a corporate compliance obligation.
What’s Included in the Annual Return?
The annual return checks and confirms details such as:
- Company name and ACN
- Registered office address
- Principal place of business
- Director and shareholder information
- Share structure
You’ll receive an Annual Statement from ASIC around the anniversary of your company’s registration date.
What You Must Do Each Year
- Review the Annual Statement from ASIC
- Confirm all company details are correct
- Pay the ASIC annual review fee
- Lodge any changes (e.g. new directors, address changes) within 28 days
- Pass a solvency resolution
ASIC Annual Return vs Tax Return
| Feature | ASIC Annual Return | Income Tax Return |
|---|---|---|
| Who receives it | ASIC | ATO |
| Focus | Company structure & legal compliance | Financial performance & tax |
| Required by | All companies | All trading companies |
| Penalties for non-compliance | Yes (late fees, deregistration) | Yes (late fees, interest, audit risk) |
Deadlines & Penalties
- Annual return must be completed within 28 days of the review date
- Late fees apply:
- $93 for 1–28 days late
- $387 for 29+ days late
- Failure to comply can lead to deregistration
How Ozobooks Helps
- Tracks your company’s ASIC review date
- Reviews and lodges your Annual Statement promptly
- Updates company details with ASIC if changes occurred
- Prepares solvency resolutions
- Prevents late fees and missed lodgements
FAQ
Q1: Do all companies need to do an annual return?
Yes. All Australian registered companies must complete an annual review with ASIC — even if they aren’t actively trading.
Q2: Is the annual return the same as a BAS or tax return?
No. It’s separate and only relates to your company registration and legal status, not tax or financials.
Q3: What if my details haven’t changed?
You still need to confirm them and pass a solvency resolution.
Q4: Can Ozobooks act as my ASIC agent?
Yes — we can manage ASIC lodgements and updates on your behalf year-round.