Lower, Fewer Business Fees

More than 80 per cent of business registry fees will be abolished or reduced from July 1, saving business about $4 million a year, Enterprise and Commerce Minister Max Bradford announced today.

Mr Bradford said the Government would make doing business easier by reducing fees charged by the Intellectual Property Office, Companies Office, Motor Vehicle Securities Register and the Plant Variety Rights Office.

The existing fee schedules collectively generate about $25 million in revenue each year against costs of about $20 million.The new fee regime will largely remove this surplus, saving businesses about $4 million.

Mr Bradford said there would be a significant rationalisation of fee structures that would take effect from July 1.

Of the total 180 fees charged by the business registries, over 150 would be abolished or reduced.

The number of fees charged by the Intellectual Property Office would be slashed from more than150 to 22, reflecting similar large-scale reductions made by the Companies Office in 1996.

Discounts of between 25 per cent and 60 per cent will also be offered for using the computer-based registration and search services provided by the Companies Office.

"The Companies Office investment in electronic commerce over the past five years enables it to offer a fast and cost-effective alternative service to clients.

"The new fee regime will encourage the move to electronic services and, consequently, help ensure the quality and currency of information on the companies register," Mr Bradford said.

The on-line registration of a new company will cost $70 from 1 July, compared to the $100 fee for a paper-based registration. Internet searching will reduce from $8 to $4 against a manual search of $10. Mr Bradford said a wide range of business registries clients were consulted about the new fee regime before its submission to the Cabinet Economic Committee earlier this year.

The proposals were met with unanimous support and are eagerly awaited by the business community, he said.