Shares issued to the wrong person
Shares go to you personally when they should have gone to your family trust, or to a spouse "to keep it simple", without thinking about tax, control or what happens if the relationship ends.
Registering a company online takes about 20 minutes. Undoing the wrong shareholder, director or structure can take months, cost thousands, and in some cases trigger tax you never expected. We'll set it up properly from day one.
Prefer to talk now? Call 03 9978 3811
The ASIC form doesn't ask whether your choices are right for you. It just records them. Those choices then follow the company for its whole life.
Shareholders decide who gets the profits, who controls the company and who pays tax when it's sold.
Directors can be personally liable for some company debts, including unpaid PAYG, GST and super.
Changing ownership later can mean valuations, legal documents, and capital gains tax.
Every one of these comes from a real file that landed on our desk after the company was already registered.
Shares go to you personally when they should have gone to your family trust, or to a spouse "to keep it simple", without thinking about tax, control or what happens if the relationship ends.
Your trust is meant to own the shares, but the ASIC form says the trustee holds them beneficially. On the public record, the trust doesn't own anything.
A spouse or parent is added as a director "on paper". Directors carry legal duties and can be personally liable for the company's unpaid PAYG withholding, GST and superannuation.
Every director needs a director ID before the company is registered. A proprietary company also needs at least one director who ordinarily lives in Australia.
Most DIY setups issue ordinary shares only. That can limit flexibility later when bringing in a partner or investor, or planning how profits are paid out.
Equal shareholders with no shareholders' agreement have no way to break a deadlock, buy each other out or deal with one owner leaving.
A company isn't always the answer. Sometimes a trust with a company as trustee fits better; sometimes staying a sole trader for now is cheaper and simpler.
TFN, GST, PAYG withholding, a separate bank account, company registers and minutes, ASIC change notices, the annual review, and the rules on taking money out of the company (Division 7A).
A short conversation before you register is the cheapest advice you'll get.
Online registration services file the form you fill in. We make sure what goes on the form is right for you.
| DIY / online form | Mastin Harris | |
|---|---|---|
| Is a company the right structure? | ×Assumed | ✓Advised for your situation |
| Who should hold the shares | ×Your guess | ✓Planned for tax, control and future sale |
| Director liability explained | ×No | ✓Yes, before anyone is appointed |
| Share classes and constitution | ×One-size-fits-all | ✓Set up for flexibility |
| Trust and corporate trustee setup | ×Separate, often out of order | ✓Coordinated in the right sequence |
| TFN, GST, PAYG registrations | ×Up to you | ✓Handled |
| Ongoing ASIC and ATO compliance | ×On your own | ✓We remind you and lodge for you |
| Someone to call when it changes | ×A help desk | ✓Your accountant, who knows your file |
Yes, you can register a company online for less. What you're paying for here isn't the form, it's getting the decisions on it right, from a registered tax agent who will still be your accountant when the company is up and running.
Fixed fee, including GST and the ASIC registration fee. No hourly billing, no surprise extras.
Book a setup callMoving shares to the right owner later can mean a valuation, legal documents and capital gains tax. That can easily cost more than doing it right the first time.
Online services lodge what you type in. We tell you whether what you've typed in is a mistake.
The firm that set up your company understands it, so your first BAS, tax return and year-end are built on solid foundations.
Straightforward, with no jargon and no guesswork.
A short call or meeting about what you're doing, who's involved and where you want to take it.
The right structure, shareholders, directors and share classes, explained in plain English.
We prepare and lodge the ASIC registration and the ATO registrations you need.
With a compliant company, a clear plan for taking money out, and us looking after the deadlines.
That's fine, plenty of people do. We'll review your setup free of charge and tell you honestly whether anything needs fixing. Mistakes are far cheaper to fix before the company trades, makes a profit or buys assets. We'll check:
If changes are needed, we'll quote a fixed fee before doing any work. You decide whether to go ahead.
or call 03 9978 3811
Yes. Anyone can register a company with ASIC. The registration is the easy part. The risk is in the decisions made on the form: who holds the shares, who the directors are, which share classes are issued, and whether a company is the right structure at all.
Yes. Every director needs a director ID from the Australian Business Registry Services, and you generally need to apply before being appointed. From 1 July 2027, companies will also have to report their directors' IDs to ASIC.
Yes. A proprietary company can have a single director and shareholder, as long as at least one director ordinarily lives in Australia. Whether you should hold the shares yourself, or through a family trust, is worth deciding before you register.
Sometimes. A company acting as trustee of a family or unit trust is common and can offer more flexibility and protection, but it adds cost and admin. It depends on your profit level, family situation and plans. We'll tell you honestly if it isn't worth it.
Not freely. The company's money isn't your money. Funds taken out need to be paid as wages, dividends or a properly documented loan, otherwise the ATO can treat them as an unfranked dividend under Division 7A. We set this up correctly from the start.
Our fixed fee is $2,750 including GST, which covers the ASIC registration fee, the structure advice before anything is lodged, and the ATO registrations your company needs to start trading. No hourly billing and no surprise extras.
An online service lodges the form you fill in. It won't tell you that the shares should be in your trust's name, that your partner shouldn't be a director, or that a company isn't the right structure for you yet. Those are the mistakes that cost thousands to fix later.
No. We'll review your setup free of charge. Most problems can be fixed, and if changes are needed we'll quote a fixed fee before doing any work. It's cheaper and easier the earlier you catch them.
$2,750 fixed fee, including GST and the ASIC fee. Talk to a registered tax agent before you register, based in Wheelers Hill and working with business owners across Melbourne and Victoria.
General information only. This page is not legal or financial advice and does not consider your specific circumstances. Page reviewed October 2026.