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https://help.myob.com/wiki/x/uIE6Ag
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Australian propriety companies only.
There are five steps to set up a company in MYOB Practice.
- Choosing a company name and completing the company details
- Appointing officers and directors
- Establishing a share structure
- Register for ATO obligations
- Declaration and lodgement
Other notes:
Even though your company will be registered Australia-wide, you must nominate a state/territory of registration when you submit your application.
- Registered office address
This is where all ASIC communications and notices to the company will be sent. This address must be within Australia and can't be a post office box address. If you don’t wish to use your own address as the Registered Office, we can provide this service at our offices for a fee.
Principal place of business address
This is where your company mainly conducts its business. This can't be a post office address. We are able to provide 'virtual office' business address facilities in all major capital cities around Australia.
We send your company registration form to ASIC. We'll also send ATO registration forms to the ATO.
- Enter the Date of the application. This is pre-populated with today's date. If you need to back date it you can select another date.
- Select either Yes or No to the question Do you wish to use the Australian Company Number (ACN) for its name?
- If you choose Yes, the company name will be the same as the ACN.
If you choose No, enter the proposed company name (excluding legal elements i.e. PTY LTD)
To check if your client's company name is available, enter the proposed company name (excluding legal elements) and click Check Availability . If you receive the message:
Sorry this name is taken – There's already a company registered with this name. You'll need to enter a new name before you can continue to register the company.
Congratulations! The name is available. – Continue completing the form to register the company with this name.
Select the legal elements that apply for the company. (Type is PTY part; class is the LTD part)
- Select which Australian state or territory the company will be registered in.
Answer either Yes or No to the following questions. Depending on your selection, you may have additional fields to complete.
Is this company a special purpose company? If you answer Yes:
- Select the subclass of the propriety company. The options are Superannuation trustee or charitable purposes only.
- Click I declare that this company is a special purpose company as defined under Regulation 3 of the Corporations (Review Fees) Regulations 2003 to accept the declaration.
Is the proposed name identical to a registered business name? If you answer Yes:
- Click "If yes, I declare that I hold, or am registering the company for the holder(s) of, the identical business name(s), the registration details of which are listed below. and The proprietor of the business name must be represented as a company officer or member."
- Answer either Yes or No to Does the registered business name have an ABN?.
- If you choose Yes, enter the ABN of the business name in the field.
- If you choose No, enter the Registration number of the business and select the state or territory the business name is registered in.
Will the company have an ultimate holding company upon registration If you answer Yes:
- Enter the name of the holding company (including legal elements) in the Holding company name field.
- Enter the holding company's ACN or ARBN.
- Select the Country of incorporation.
Enter the registered office address in the Search Address field. As you type, a list of addresses appear matching the address. When the correct address appears click the address to automatically populate the Street address, Country, State and Suburb fields.
The registered office address can't be a PO Box.
Answer either Yes or No to the following questions. Depending on your selection, you may have additional fields to complete.
Will this company be the sole occupier of this address? If you answer No:
- Enter the Name of Occupier in the field provided.
Will this company use this address as principal place of business? If you answer No: - Enter the main business address in the Search Address field of the Principal place of business panel. As you type, a list of addresses appear matching the address. When the correct address appears click the address to automatically populate the Street address, Country, State and Suburb fields.
Click Next step.
- Click + Add new officer. The Search for new office field appears.
- To appoint an existing MYOB contact as an officer for this organisation, type the name of the contact in the Search for new officer field.
- To create a new contact and appoint them as an officer for the organisation, click + Create new officer.
Enter the personal details such as First name, Last name, Date of birth, Country of birth and Street address.
To enter the officeholder's street address:
Type the address in the Search address field. A list of valid address suggestions appear.
Select the correct address from the list of suggestions. The Street address, State and Suburb fields populate.
Overseas address?
Click Manually enter address and enter the Street address, Country and Locality (i.e. suburb, province or region) in the relevant fields.
Select Director, Secretary and/or Primary contact.
An officer can occupy more than one role. For example, they may be both the director and secretary.
A Propriety company must have:
- one director
- one Australian resident director
- one primary contact
- Click Add officer. The officer appears in the list.
- Click Next step.
Officers appear in the Shareholders list by default. If the officer is not a shareholder, click the ellipses button in the last column and choose Delete to remove them from the list.
Enter the following information for each shareholder.
Field Description Share code Select the class of shares the shareholder holds. Total shares Enter the total number of shares the shareholder holds for the selected share class. Total paid Enter the total amount paid for all shares Total unpaid Enter the total amount unpaid for all shares Beneficially held Select whether the shares are beneficially held by the shareholder. Beneficial owner (if applicable) Enter the name of the beneficial owner. If a shareholder holds multiple classes of shares, click in the next blank row for the shareholder and fill in the details.
Add additional shareholders by clicking + Add new shareholder.
- To appoint an existing MYOB contact as a shareholder, type the name of the contact in the Search for new shareholder field .
- To create a new contact and appoint them as a shareholder, click + Create new shareholder and fill in their details.
- Click Next step.
- Select the obligations to register the company for. You may have additional fields to complete depending on your selection.
- Tax file number (TFN)
- Australian business number (ABN)
- Goods and services tax (GST)
- Pay as you go withholding (PAYG)
Fringe benefits tax (FBT)
Complete the fields for each section. Once complete, click Next Step.
A registration form for these obligations are lodged to the ATO at the same time as the company registration is lodged to ASIC.
If you choose any of the above, registration for TFN is also created. To register for one obligation only, visit the ATO website.
- Review summary
- Click declaration
- Click Lodge form.
The ACN application is lodged to ASIC. Any obligations at step 4 is lodged to the ATO.