91AV

InFocus June 2025 - Volume 34 Issue 5

• Coming Soon – More transactions added in the Australian Financial Services (AFS) licensing portal 
• Fee indexation 2025Ìý
• Understanding financial reporting deadlinesÌýÌýÌý
• Coming soon – ASIC website refresh
• ASIC reminds small business directors of their obligations to manage company money and assets appropriately
• Claiming tax deduction on Charity donations

Coming Soon – More transactions added in the Australian Financial Services (AFS) licensing portal 

Applications to vary, maintain or cancel an AFS licence in the new AFS licensing portal will become available from 16 June 2025. These additional transactions compliment the launch of the AFS licensing portal introduced on 5 May 2025. These improvements will enable AFS licensees and applicants to manage most of their AFS licence transactions on one portal. Ìý

The new portal is designed to provide a more efficient, modern and user-friendly experience for AFS applicants and current licensees. Ìý

AFS licensees will need to note the following: Ìý Ìý

• Applications to vary, maintain or cancel an AFS can be lodged in the existing until midnight, 12 June 2025.ÌýÌý
• From 16 June 2025, applications to vary, maintain or cancel an AFS will need to be lodged through the new AFS licensing portal.
• AFS licensees will continue to use eLicensing system to lodge applications to register managed investment 91AVs and PDS in-use notices.ÌýÌý
• Credit Licence applications and applications relating to registered company auditors will also continue to be made in the eLicensing system.Ìý
• If you’ve commenced an application or notification on the eLicensing system but can’t submit before 13 June 2025, you’ll need to commence a new transaction on the new portal. 
• Anyone seeking access or submitting an apply, vary, cancel or maintain AFS transaction through the Regulatory Portal will need to .

The AFS licences project is a part of our RegistryConnect program which aims to stabilise and uplift ASIC’s business and professional registers. Ìý â¶Ä¯Ìý

More information: Ìý

• How to access the AFS licensing dashboard user guide.Ìý
• How to apply for an AFS licence in the new portal . 

Fee indexation 2025Ìý

On 1 July 2025, some ASIC fees will change based on an increase in the Consumer Price Index (CPI).Ìý

Our Fees for commonly lodged documents page was recently updated to compare the current fees against the proposed indexed fees.Ìý

INFO 30 - Fees for commonly lodged documents will no longer be available as a PDF. Our website allows you to view our fees directly, ensuring you always have access to the most up-to-date fees.Ìý

For more information about fee indexation, visit our website.Ìý

Coming soon – ASIC website refreshÌýÌý

For millions of Australians who operate or want to operate businesses in Australia, asic.gov.au is the gateway to relevant and up-to-date information and tools. Ìý

We are working on delivering a simplified and intuitive website which will improve the experience for all users. Ìý

It includes:   Ìý

• Improved look and feel for the website overall. Ìý
• Enhanced navigation to better support user needs.Ìý
• Refreshed website content for Company Registration and Business Names that will be easier to navigate and understand. Ìý

This refreshed website will have a positive impact on users by: Ìý

• Better meeting user expectations about how to perform a task or find relevant information.Ìý
• Providing logical signposts to ensure users are directed to the relevant portal to perform key tasks. Ìý
• Improving search functionality of regulatory documents and forms to allow users to filter by industry, date, and other categories.Ìý
• Ensuring links to key information are accessible via global navigation features. Ìý

The new website will launch late June 2025. Ìý

SAMPLE of the new look ASIC pagesÌý

Understanding financial reporting deadlinesÌý

If your entity has a financial year ending 30 June and financial reports need to be submitted, it’s essential to start preparing now to ensure compliance and avoid late fees.Ìý

All financial reports must be lodged online, and this process will differ depending on the type of entity.Ìý

Companies, disclosing entities and 91AVs.ÌýÌý

Some companies are required to submit their financial reports online within 4 months after the financial year. Schemes and disclosing entities must lodge within 3 months after the financial year.ÌýÌý

These entities are required to use the Form 388 Copy of financial statements and report. This form ensures financial statements, directors reports, and auditor reports are recorded correctly on our registers.ÌýÌý

Australian Financial Service (AFS) licenseesÌýÌý

AFS licensees need to provide their financial reports by lodging the following:ÌýÌý

1. Form FS70 Australian financial services licensee profit and loss statement and balance sheet, this captures the financial performance and position of the licensee andÌý
2. Form FS71 Auditor’s Report for AFS Licensee. This confirms compliance with financial regulations through an audit.Ìý

If an entity is both a company and an AFS licensee, both the above lodgement requirements may need to be met.ÌýÌý

Accurate financial reporting helps maintains transparency and ensures compliance.Ìý

For further information on financial reporting requirements, visit our Ìý

ASIC reminds small business directors of their obligations to manage company money and assets appropriately

We are reminding small business company directors that they must manage company money and assets in the best interests of their company. Ìý

Misuse of company money and assets for personal gain can lead to companies being unable to pay their debts, which can harm other small businesses who are creditors.ÌýÌý

The reminder follows recent action that has been taken against company directors following ASIC investigations. Read more in our news article.Ìý

Spotlight articleÌýfrom other Government departments or industries

Claiming tax deduction on Charity donations Think your recent charity donation is tax deductible? Let’s double check...Ìý Is the charity or organisation a Deductible Gift Recipient (DGR)? You can check on the ABR’s Ìý Was it a genuine gift or donation? Meaning, you gave the money without receiving (or expecting to receive) anything in return? Did you keep your receipt or tax invoice?ÌýÌý If your answer to all these questions is yes, you can claim your donation as a deduction. For more information, visit Ìý

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