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New fees regulations

TREASURY has introduced new Corporations Fees Regulations and Review Fee Regulations.

Some came into effect on July 1 and other changes will be implemented on September 1.

Some of the new review fees that came into effect on July 1 are:

A public company, except a special purpose company or a small transferring financial institution – $1,000;

A proprietary company, except a special purpose company – $200;

A special purpose company – $40;

A registered scheme – $1,000;

A company in liquidation – no fee; and

A small transferring financial institution, except a special purpose company – $200.

The late payment fee for up to one month late is $65 and for more than one month late is $275.

From September 1 most fees will increase except:

The review fees that came into effect on July 1;

The late payment fee that came into effect on July 1 and is charged when a review fee is not paid within two months of the review date;

The application fee to change a review date that came into effect on July 1; and

Any existing fee that was set at a level of $20, $40, $65, $150 or $400.

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