[Aust-NZ] Incorporation options

Fri Nov 9 02:10:21 EST 2007

I agree. The cost vs benefit does not appear to be worth it from my limited trading knowledge and research. 

Definately put this to a vote and we would need to get many more of the interested parties involved off the wiki. I am a bit worried at the moment that only a small portion of people are actively discussing this issue on the list.

Chris

On Fri, 09 Nov 2007 17:16:05 +1100, Cameron Shorter <cameron.shorter at gmail.com> wrote:
> Thanks Tim,
> I agree, keep registration costs down, and  lets make a decision.
> 
> Lets hear what Bruce has to say, (and any others), then put a proposal
> forward that we can vote on.
> 
> Tim Bowden wrote:
>> On Tue, 2007-10-30 at 11:46 +1100, Bruce.Bannerman at dpi.vic.gov.au wrote:
>>
>>> Tim,
>>>
>>> IMO:
>>>
>>>
>>> I've had a look through some of the options referred to below,
>>> specifically:
>>>
>>> http://www.asic.gov.au/asic/asic.nsf/byheadline/Registering
>>> +not-for-profit+or+charitable+organisations?openDocument
>>>
>>>
>>> I prefer the Company structure over the Incorporated Association,
>>> mainly due to its more flexible use Australia wide.
>>>
>>
>> If we become an incorporated association (in any state) then register
>> with ASIC, we have full rights to conduct business Aust wide.  Is there
>> anything specific you were worried about here?
>>
>>
>>> It also has some specific requirements that though potentially costly
>>> and onerous are appropriate for this type of organisation. Some
>>> examples are:
>>>
>>
>> Yes, company registration does have onerous requirements for a small
>> organisation like ours, and is quite expensive.  Given we are looking to
>> operate on a shoestring budget, I'm not sure where the money would come
>> from.  Spending money on statutory type requirements would also limit
>> our ability to spend money on getting a presence at trade shows, conf's
>> and the like.  I'm not convinced that's a good trade off.  Are there any
>> compelling reasons to go for the more expensive company registration
>> option?
>>
>>
>>> - Keep a record of all directors' and members' meeting minutes and
>>> resolutions;
>>>         - Appoint a registered company auditor within 1 month of its
>>> registration;
>>>         - Keep proper financial records
>>>         - Prepare, have audited and lodge financial statements and
>>> reports at the end of every financial year;
>>>         - Send to its members a copy of its financial statements and
>>> reports, unless the member has a standing arrangement with the company
>>> not to receive them;
>>>         - Hold an Annual General Meeting once every calendar year
>>> within 5 months of the end of its financial year;
>>>
>>>        If we were to go with this type of structure, does anyone have
>>> any ideas how we could fund these ongoing commitments + more (e.g.
>>> annual fees etc). Setting up the company could cost between $1,000 to
>>> $5,000 depending on what advice is taken before hand. There are also
>>> some other costs that I won't discuss on line, but would be
>>> appropriate as well.
>>>
>>>
>>> Bruce
>>>
>>>
>>
>> At the moment I'm leaning towards incorporation in WA as it's cheap and
>> has few requirements (specifically, no residency requirements for public
>> officers or members).  If we then register with ASIC we are then legally
>> able to conduct business anywhere in the country, which will be an issue
>> if we win the bid for the Sydney conf.
>>
>> All this ignores any issues involved with operating in NZ (after all, we
>> are the Aust-NZ chapter) but until we look at holding public events
>> there, we probably don't have to worry too much.
>>
>> It would be good to see this (finally) done and out of the way, so let's
>> see if we can get consensus on this by the end of next week.
>>
>> Regards,
>> Tim
>>
>>
>>> aust-nz-bounces at lists.osgeo.org wrote on 14/09/2007 10:41:46 AM:
>>>
>>>
>>>> All,
>>>>
>>>> I've been looking into incorporation options for the Aust-NZ
>>>>
>>> chapter.
>>>
>>>> It seems that we can incorporate in any state where we meet the
>>>>
>>> state
>>>
>>>> requirements, then register with ASIC which will enable us to
>>>>
>>> operate
>>>
>>>> outside our state of incorporation.
>>>>
>>>> ASIC guidelines can be found here:
>>>>
>>>> http://www.asic.gov.au/asic/asic.nsf/byheadline/Registering
>>>> +not-for-profit+or+charitable+organisations?openDocument
>>>> (watch for url wrap)
>>>> It includes links to all the states requirements.
>>>>
>>>> I've started looking through the legislation for various states, but
>>>>
>>> so
>>>
>>>> far haven't got past ACT and WA.  If anyone wants to summarise the
>>>> requirements for their state, we should then be in a position to
>>>>
>>> decide
>>>
>>>> which suits us best.
>>>>
>>>> Summary of requirements of states (so far):
>>>>
>>>> ACT
>>>> Legislation: http://www.legislation.act.gov.au/a/1991-46/default.asp
>>>> Guidelines: http://www.rgo.act.gov.au/assn2.shtml
>>>> 5 members minimum
>>>> Application for incorporation by ACT resident
>>>> Initial committee of at least 3 people
>>>> Public office required and must be resident in ACT
>>>> Maintain accounts and keep for seven years
>>>> Accounts must be audited.
>>>> If assets or expenditure exceed a certain amount ($150,000) or
>>>> membership >1000 then the auditor must be a chartered accountant
>>>>
>>> (this
>>>
>>>> will be an issue for us only in the year we hold a major event such
>>>>
>>> as a
>>>
>>>> conf; otherwise it won't affect us).
>>>> Audited accounts must be lodged yearly.
>>>> Register of members available to all members.
>>>>
>>>> Costs: Application to Incorporate- $133
>>>>
>>>> WA
>>>> Legislation:
>>>> http://www.slp.wa.gov.au/statutes/swans.nsf/DisplayPDF?
>>>> Openagent&Type=S&ID=D2C45E0D21C9A904482570BC002E763C
>>>> Guidelines: http://www.docep.wa.gov.au/associations/
>>>> More than 5 members
>>>> Intention to apply for incorporation must be advertised between one
>>>>
>>> and
>>>
>>>> three months before the application is made.
>>>> No residency requirements
>>>> Keep accounts in such a state that they can be audited and presented
>>>>
>>> to
>>>
>>>> members at AGM
>>>> Register of members to be kept with residential or postal address.
>>>>
>>>> Regards,
>>>> Tim
>>>>
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> 
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