Changes to the ABN Lookup effective 31 October 2018 will see trading names disappear, be quick and register your business name before it’s too late.
Did you know on the 28 May 2012 Australian Securities & Investments Commission known as ASIC introduced a new business name register ASIC Connect, which superseded the previous state and territory registers? From this date, any new business name registrations could only be registered to a current ABN holder, enabling a visible link for business name registrations to be recorded under an ABN registration on the ABN Lookup website at https://abr.business.gov.au
With the introduction of the new national Business Names Register, the Registrar of the Australian Business Register known as the ABR also stopped collecting and recording business names registered for an entity or individual under the old state or territory laws along with unregistered names used for business purposes. Notice was then given to individuals and entities at that time that a ‘transitional’ period for the historical names, now referred to as an entity’s trading name would continue to be displayed in the trading name field only of the ABN Lookup.
Many years passed with the ‘transitional’ period end date now being confirmed as the 31 October 2018 meaning, after this date the Registrar will no longer publicly display the previously recorded trading names on the ABR’s ABN Lookup website.
What does this mean for your business name?
If you were to continue to use a trading name for business purposes rather than your legal name, or a business name that you had registered to your individual or entity’s ABN with ASIC, other businesses that you deal with will be unable to use the ABN Lookup website to verify your identity or confirm your GST registration status. You would also run the risk that another individual or entity may secure a name that you have traded as and have been known by for your entire business life.
How can you prevent losing your business identity? | Register your Business name
If you don’t already have one, you will need to apply for an individual or entity ABN with the Australian Business Register and complete a business name registration under your ABN registration with ASIC Connect or, alternatively give our office a call on 07 5528 2000 to discuss and we can complete the registrations for you.