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Tuesday, 28 November 2006
Page: 213


Mr Fitzgibbon asked the Treasurer (Costello), in writing, on 9 October 2006:

How may companies with a capital value of (a) $100,000-$199,999, (b) $200,000-$299,999, (c) $300,000-$399,999, (d) $400,000-$499,999 and (e) 500,000 or more paid the ASIC Incorporation fee for the financial year (i) 2003-04, (ii) 2004-05 and (iii) 2005-06.


Mr Costello (Treasurer) —The answer to the honourable member’s question is as follows:

The incorporation fee is paid before a company is registered. It is an up-front fee paid at the time the promoter of the company applies to the Australian Securities and Investments Commission (ASIC) for the company to be registered and, as such, is paid before the company has any assets. Information on the total number of new companies registered by ASIC in each of the years specified in the question is available in the ASIC annual report.