General FAQs

1. This is the first time ordering with Reckon Docs, how do I set up an account? 
2. Can you please send me an order form?
3. What packaging option are the documents delivered in?
4. What is the difference between Bound and Unbound companies?
5. What types of companies does Reckon Docs incorporate?
6. What do I do if Reckon Docs made an error? 
7. What do I do if I have made an error? 
8. Can I go directly to ASIC to register my company?
9. How do I reserve a company name?
10. I have forgotten my password, what do I do?
11. I have forgotten my username, what do I do?

Q1.  This is the first time ordering with Reckon Docs, how do I set up an account?

Please complete a new account form and e-mail back to accountmanagement@reckon.com.au or fax to 1300 139 013.

Please note: Accounts may only be set up for accountants, financial planners, or a legal/solicitor that have provided their ABN numbers.  

Q2. Can you please send me an order form?

Click here to download an order form or simply log onto Reckon Docs Online, to establish companies, trusts and SMSF quickly and easily.

Q3. What packaging options are the documents delivered in?

Majority of Reckon Docs documents are available in three packages. As an electronic DIY print option, you will receive the documents e-mailed as a pdf file. As a printed option, you may either prefer the binder which is a fully bound set of documents presented in a deluxe binder or a SpaceSaver file which only includes essential documents.

Q4. What is the difference between bound and unbound companies?

A bound company is a company register that is printed and collated with all notices, minutes and other supporting documentation, which is presented in a corporate secretarial binder. Unbound companies are electronic copies of documents which will needs to either be stored electronically or printed for record. 

Q5. What type of companies does Reckon Docs incorporate?

Reckon Docs registers a range of companies, including  Preferred Name Proprietary Companies (Pty Ltd), Shelf Companies (Pty Ltd), Public Limited by Shares (Limited), Public Limited by Guarantee (Limited) and SMSF Trustee Companies.

Q6. What do I do if Reckon Docs made an error?

Contact a Reckon Docs customer service officer on 1300 139 001 and inform the officer regarding the error. Reckon Docs will then be responsible for lodging any forms required and replace all documents at no charge.

Q7. What do I do if I made an error?

If you have made an error with any of the information provided upon ordering, you may need to lodge various ASIC forms to notify and amend the details if a company (ASIC fees may apply). Whereas iIf a trust or super has been executed, amendments may need to be conducted under the formal process. If you would like Reckon Docs to re-print any necessary documents with these amendments, please outline those changes in writing. Printing fees of $55 may apply.

Q8. Can I go directly to ASIC to register my company?

Yes. However, ASIC will only provide you with a Company Certificate. ASIC does not supply constitutions and or company secretarial documents that are included in Reckon Docs packages.

Q9. How do I reserve a company name?

Simply complete a company name reservation order form. The company name is then reserved for two (2) months and can be renewed for additional two (2) months provided reasons.

Q10. I have forgotten my password, what do I do?

Simply enter your username into the sign-in box and click on "Reset Password" or "Forgot Password" located next to the username field. An e-mail will be sent to the specified username (e-mail address) with a new password. If you are still experiencing issues with the password and or signing in, please contact Help Desk on 1300 139 001 and speak to a representative. 

Q11. I have forgotten my username, what do I do?

Your username would be the contact e-mail address provided to Reckon Docs/ Reckon Espreon on your account. If you are experiencing issues with signing in please contact Help Desk on 1300 139 001.

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Company FAQs

1. Is my Company Name available? 
2. Can I use a Business Name as a Company Name? 
3. How long will it take to register a Company? 
4. What is the difference between a Preferred Name & a Shelf Company?  
5. What is a Public Company Limited by Shares?  
6. What is a Public Company Limited by Guarantee?  
7. What is the purpose of a Sole Purpose SMSF Company?  
8. What is the difference between the Standard & Strategist Sole Purpose SMSF Company? 
9. What is an Ultimate Holding Company? 
10. What is the Registered Office?  
11. Can I use my practice address as my client's Registered Office? 
12. What is the Principal Place of Business?  
13. What is the difference between Registered Office & Principal Place of Business? 
14. What is a Corporate Key? 
15. What is a Company Common Seal? 
16. Who signs the Company Constitution? 
17. Can I back-date the incorporation date of my Company? 
18. Can I use a PO Box in a Company? 
19. Why do I need officeholder consents for a new Company? 
20. Is there a minimum number of Directors required for my Company? 
21. Is there a minimum age for a Director? 
22. Can a Company be a Director? 
23. Do I need to appoint a Company Secretary? 
24. Can a Trust hold Shares in a Company? 
25. Can a foreign/ overseas-based company be a Shareholder? 
26. What is the difference between "Beneficially Owned" & "Non-Beneficially Owned"?
27. Is there a minimum amount of shares that needs to be issued in the Company?
28. Can shares be held jointly? 

Q1. Is my Company Name available?

To check the availability of your preferred name on the ASIC website, Click here
If business names with an identical or similar name exist, all business names in each state must be owned and declared when submitting your order.  

Q2. Can I use a Business Name as a Company Name?

Yes. Providing that consent has been received from the Business Name owner. This can be declared on Reckon Docs Online, or on Reckon Docs' new order forms. All Business Names in all states will need to be declared, including the Business Name, number and State.

Q3. How long will it take to register a Company?

Through the online system, provided the proposed company name is accepted by ASIC, you should receive an ACN within 20 minutes of lodging your order. Upon registration, Reckon Docs will e-mail a Certificate of Incorporation to you (ASIC acknowledgement of the Company being registered).

Q4. What is the difference between a Preferred Name & a Shelf Company?

Q5. What is a Public Company Limited by Shares?

A Public Company Limited by Shares has a share capital. Unlike Pty Ltd Companies, it markets its shares to the general public becoming listed on the stock exchange.

Minimum Requirements:

• 3 Directors (2 must reside in Australia)
• 1 Secretary (Secretary must reside in Australia)
• 1 Shareholder

Q6. What is a Public Company Limited by Guarantee?

A Public Company Limited by Guarantee does not have a share capital. Members are not required to contribute upfront or while the company is operating. If the company is wound up or unable to pay up a specified amount, all members will be required to pay the Guaranteed Amount specified in the Constitution.

Minimum Requirements:

• 3 Directors (2 must reside in Australia)
• 1 Secretary (Secretary must reside in Australia)
• 1 Shareholder

Q7. What is the purpose of a Sole Purpose SMSF Company?

A Sole Purpose SMSF Company is  set up for the single purpose of a Super Fund and will never trade. Form 484B needs to be lodged to inform ASIC the company will not be trading and has an annual fee of $40.

Q8. What is the difference between the Standard & Strategist Sole Purpose SMSF Company?

The difference is the voting rights. Standard SMSF constitution gives each director a vote. Strategist Constitution issues votes dependent on the member's balance in the fund. For example, one member may hold $400,000 and the second member $100,000; it would be unfair if votes were issued evenly where a member holds 80% of the fund's balance. The Strategist constitution also links to specific clauses in the Strategist SMSF trust deed.

Q9. What is an Ultimate Holding Company?

If the Company being registered is owned or controlled by another company by way of shares (51% or more), deed or other device, then either that company or the mother company (if a higher one exists) must be listed as the Ultimate Holding Company. Generally, if this company's shareholders are natural people you will not need to nominate an Ultimate Holding Company.
If the Ultimate Holding Company is registered in Australia, the ACN or ABN is required. The Country of registration is only required for non-Australian companies.

Q10. What is the Registered Office?

The Registered Office of an Australian Company is a physical address within Australia, which cannot be a PO Box address. All Company documents, communications and notices are sent to this address. If the Company does not occupy the registered office address, then the occupier must provide its written consent for the use of that address.

Q11. Can I use my practice address as my client's Registered Office?

Yes. You can nominate your office address as your client's Registered Office. You must notify ASIC and document consent as Occupier for the client to use your address as the Registered Office.

Q12. What is the Principal Place of Business?

The Principal Place of Business is the main address the company will conduct business and trade from. ASIC must be notified if the Principal Place of Business differs to the Registered Office address.

Q13. What is the difference between Registered Office and Principal Place of Business?

ASIC documentation and correspondence is sent to the Registered Office. Business operations and trading are primarily at the Principal Place of Business.

Q14. What is a Corporate Key?

The Corporate Key is an eight-digit number unique to the Company and is used to keep company information secure, to view company records and to lodge ASIC forms. The Corporate Key is issued when the Company is registered and is sent to the registered office within two days of incorporation. The Corporate Key can also be found on the Annual Company Statement.

Q15. What is a Company Common Seal?

The Company Common Seal is a rubber stamp that shows the Company's name and its ACN. It is used as an equivalent to the Company's signature. This is nolonger required by  incorporated companies as of 1 July 1998 in accordance to s123 Corporations Act 2001.

Q16. Who signs the Company Constitution?

All Shareholders/ Members of the Company will be required to execute the constitution.

Q17. Can I back-date the incorporation date of my Company?

No. ASIC will not back-date incorporations. If you require a company incorporated before a particular date, you can purchase a pre-registered company from Reckon Docs' Shelf Company list.

Q18. Can I use a PO Box in a Company?

A PO Box can only be used as a nominated address for an individual or corporate entity that is solely a Shareholder/ Member. Registered Office, Principal Place of Business and all Officeholder addresses must be the full street address.

Q19. Why do I need officeholder consents for a new Company?

It is a legal requirement to obtain written consent from all officeholders to be appointed before incorporating a new Company, as legal action and liability falls upon the person ordering the Company.

Q20. Is there a minimum number of Directors required for my Company?

At least 1 Director must be appointed. This director must ordinarily reside in Australia. Please note: old company constitutions may require a specific number of directors to be appointed.

Q21. Is there a minimum age for a Director?

Yes. All directors and secretaries must be at least 18 years of age and if there is only 1 Director, he or she must ordinarily reside in Australia.

Q22. Can a Company be a Director?

No. A Director must be an individual at least 18 years old and if there is only 1 Director, he or she must ordinarily reside in Australia.

Q23. Do I need to appoint a Company Secretary?

No. It is no longer mandatory to have a Company Secretary as of March 2000. However, if a Secretary is appointed, at least 1 Secretary must ordinarily reside in Australia.

Q24. Can a Trust hold Shares in the Company?

A trust can hold shares, however the Trustee of the Trust must hold the shares on the Trust’s behalf. The appointed shareholder must be either an individual or a corporate entity (e.g. John Smith holding 1 Ordinary share as trustee for the Smith Family Trust)

Q25. Can a foreign/ overseas-based company be a shareholder?

Yes. The company must have at least one Shareholder/ Member that ordinarily resides in Australia.

Q26. What is the difference between "Beneficially Owned" and "Non-Beneficially Owned"?

Beneficially Owned means that the Shareholder is holding and benefiting from the shares. Non-Beneficially Owned means that the individual or corporate entity as Shareholder holds the shares as trustee for (on behalf) of either a trust, super fund or another person.

Q27. Is there a minimum amount of shares that needs to be issued in the Company?

Yes. At least 1 share is required to be issued for the Company to be incorporated.

Q28. Can shares be jointly held?

Yes.

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SMSF FAQs

1. What is the difference between the Strategist and Standard Trust Deed? 
2. How many Members / Trustees are required? 
3. Can I have a sole member fund? 
4. What is the purpose of a Sole Purpose SMSF Company? 
5. What is the difference between the Standard Sole Purpose SMSF Company and the Strategist Sole Purpose SMSF Company? 
6. Does Reckon Docs SMSF trust deeds allow for Instalment Warrants? 
7. What do I receive with my SMSF? 
8. I need to make changes to my SMSF, what do I need to do? 
9. I have lost my SMSF trust deed, do you have a copy? 
10. How much is Stamp Duty? 

Q1. What is the difference between the Strategist and Standard Trust Deed?

The Strategist Deed is drafted by a panel of SMSF expert practitioners, reviewed and updated regularly with the latest legislative changes. The deed is written in an educational format with explanation boxes to educate Trustees in areas such as strategy and compliance.

The Strategist SMSF product includes an instructional DVD that highlights the key features of SMSFs to assist Trustees in making decisions. The Strategist SMSF product also includes a compliance package comprised of detailed minutes and notices documenting transactions that may occur throughout the life of the Fund with references to the Deed.

Strategist Deeds are updated by a rule replacement rather than an upgrade, making it easier to maintain the compliance of the Fund. 

Q2. How many Members/ Trustees are required?

The maximum number of persons in an SMSF regulated by the ATO is four (4). Each fund must have at least one (1) Member. Generally, all Trustees must be Members (except for Sole Member funds) and vice versa. If there is a corporate trustee, all Members must be a Director of that company.

Q3. Can I have a sole member fund?

Yes, however the sole member can not be the sole trustee, and must either be a sole director of a corporate trustee or appoint a co-trustee individual.

Q4. What is the purpose of a Sole Purpose SMSF Company?

A Sole Purpose SMSF Company is solely set up for the purpose of a Super Fund and will never trade. ASIC is notified of the company's special purpose upon registration and will receive a concessional annual review fee of $41.

Q5. What is the difference between the Standard Sole Purpose SMSF Company and the Strategist Sole Purpose SMSF Company?

The difference is the voting rights. Standard SMSF constitution gives the option of either a single vote per director or a vote for each dollar in the members' account. For example, one member may hold $400,000 and the second member $100,000; it would be unfair if votes were issued evenly where a member holds 80% of the fund's balance. The Strategist constitution also links to specific clauses in the Strategist SMSF trust deed.

Q6. Does Reckon Docs SMSF trust deed allow for Instalment Warrants?

Yes. Both the Standard and Strategist trust deeds allow for Instalment Warrant arrangements. Please note that an Instalment Warrant is a separate product and will need to be purchased separately.

Q7. What do I receive with my SMSF?

The package includes the trust deed, consent and declaration forms, membership applications, product disclosure statement for each member, death nomination forms and a suggested investment strategy. For more information click here.

Q8. I need to make changes to my SMSF, what do I need to do?

Please complete a Change of Trustee/ Fund Name order form and attach a copy of the original (executed) trust deed with any amendment deeds made from the fund's original start date to present. Any original copies mailed to Reckon Docs will be sent back with the ordered documents.

Q9. I have lost my trust deed, do you have a copy?

If the SMSF was ordered with Espreon or Reckon Docs, we may have a copy in the system, however, if it is not in the system or the SMSF is not an Espreon or Reckon Docs trust deed, you would need to complete the Deed of Confirmation order form. A replacement deed with Reckon Docs current version of the SMSF trust deed will be issued.

Q10. How much is Stamp Duty?

Stamp Duty differs from state to state and you will need to refer to the stamp duty chart (included in the package). The chart is merely a guide and you must contact your relevant state revenue office for confirmation.

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Trust FAQs

1. Is this Trust Name available? 
2. Who can be Trustee of my Trust? 
3. What is a Settlor? 
4. What is the Settle Sum? 
5. What is a Principal/ Appointor? 
6. What is a Guardian and do I require one? 
7. What is a Founder? 
8. Who can be the Beneficiaries? 
9. Who do Beneficiaries cover? 
10. How much is Stamp Duty? 
11. What is the difference between a Discretionary Trust and a Unit Trust? 

Q1. Is this Trust Name available?

Trusts can have identical names as they are not registered with ASIC.

Q2. Who can be Trustee of my Trust?

The Trustee can either be a Corporate Entity or an Individual. There is no limit to how many individual trustees you can have, however, the individual cannot be a disqualified person and must be over 18 years of age.

Q3. What is a Settlor?

A Settlor is independent to the deed, and will pay the Settled Sum to establish the trust. The Settlor cannot benefit from the trust in any way and cannot receive a payment for acting as the Settlor. Once the Settlor has paid the settled sum and executed the trust deed, the Settlor will play no further part in the Trust.

Q4. What is the Settled Sum?

The Settled Sum is an initial payment to establish the discretionary trust, paid by the Settlor as a gift and cannot be reimbursed. The minimum Settled Sum amount is $1.

Q5. What is a Principal/ Appointor?

The Principal/ Appointor has the authority to add and remove people from the Trust.

Q6. What is a Guardian and do I require one?

A Guardian is someone who looks over the Trust and its Trustees. A Guardian is not mandatory, and we advise that you please seek independent legal advice if you wish to appoint one.

Q7. What is a Founder?

A Founder has a similar role to the Settlor, which pays the initial sum to establish the Unit trust, however, the Founder can be a Trustee or Beneficiary.  Please note that a Founder is not mandatory.

Q8. Who can be the Beneficiaries?

We are unable to provide advice, however, if the trust is a husband and wife set up, it would generally be themselves as beneficiaries.

Q9. Who do Beneficiaries cover?

By naming a beneficiary in the Trust, there is an automatic inclusion of the spouse,  children and grand children, parents, grandparents etc of the beneficiary. This would also include any other entity that the beneficiary has a stake in. e.g. if the person is a shareholder in a company, that company could also receive a benefit. Any payments made are at the Trustee's discretion.

Q10. How much is Stamp Duty?

Stamp Duty differs from state to state and you will need to refer to the stamp duty chart (included in the package). The chart is merely a guide and you must contact your relevant state revenue office for confirmation.

Q11.  What is the difference between a Discretionary Trust and a Unit Trust?

In a Discretionary Trust, the Trustees have the discretion over which beneficiary receives a benefit and the portion they will receive.  In a Unit Trust, the beneficiaries receive interest determined by the proportion of units that they have invested into the trust.

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