When a company is no longer required and when there are no retained profits or assets, the most effective way to dispose of the company is to apply for its deregistration.
In order to qualify for deregistration, all of the following conditions need to be met:
- all members agree to the deregistration
- the company is not carrying on business
- the company’s assets are worth less than $1,000
- the company has paid all fees and penalties payable under the Corporations Act
- the company has no outstanding liabilities, and
- the company is not a party to any legal proceedings.
Additionally, the person who signs the application for deregistration must clearly state that each of the above statements is true.
To apply for voluntary deregistration, simply fill in our order form and submit it to us. We’ll be happy to help.