Confused by Companies Who Call? Be Caller Savvy

Renewal of Business Names

Last week a customer received a telephone call from a person who they thought was from the Australian Securities and Investments Commission (ASIC).  In this instance, the caller was from a legitimate external agency and not a scam, however, the phone call lead to our customer incurring unnecessary costs.

We are highlighting to our customers to be aware of agencies who may call and advise that your business name is about to expire and ask if you would like to renew your registration.  If you accept this offer, they will forward to you forms and will request a fee of $199 to renew your business name registration for 3 years.  What you may not realise is that you can renew your business name yourself through ASIC direct, for a cost of only $84.  https://asic.gov.au/for-business/renewing-your-business-name/

Caller beware, but also be internet search aware.  Even if you search business names, three external agencies appear before the official ASIC website, so it's an easy way for people to get caught out spending more than they need to.

If you are unsure of who is calling you or how to proceed, please don't hesitate to contact one of our helpful Tax & Business Advisory team members.  One telephone call to our office could save you hundreds.

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