National Business Names Registration Service
The new National Business Names Registration Service replaces the separate state and territory registers and will reduce red tape, save time, cut costs and improve knowledge and certainty for Australian businesses.
Launched on 28 May 2012 as part of the Council of Australian Governments’ regulatory reform agenda, the new service means businesses can now register their business name throughout Australia using one easy online registration process and paying one low fee. Businesses can choose to register their business name at a cost of $30 for one year or $70 for three years.
Existing state and territory registrations have been automatically transferred to the national register that is administered by the Australian Securities and Investments Commission (ASIC). ASIC will contact business name holders when it is time to renew their business name registration.
To help new businesses, there is also a linked process for registering an Australian Business Number (ABN) at the same time as registering a business name. ABN registration remains a free service.
For further information or to use the register, visit ASIC Connect at the ASIC website.
In addition to the new national service and the linked ABN service, the reforms include the creation of:
- The Australian Business Account (ABA) - a new online account to help businesses manage ongoing business interactions with all levels of government.
- The upcoming Australian Business Licence and Information Service (ABLIS) - a free service to help businesses find all government licenses, permits, registrations, codes of practice, standards and guidelines they need to know to meet their compliance responsibilities.
Together these initiatives are expected to deliver benefits of around $1.5 billion over eight years to business, government and consumers.
The National Business Name Registration Service was established by the National Business Name Registration legislative package, enacted on 3 November 2011.
The package included:
- Business Names Registration Act 2011 (Registration Act)
- Business Names Registration (Transitional and Consequential Provisions) Act 2011 (Transitional Act)
- Business Names Registration (Fees) Act 2011 (Fees Act)
The legislation is supported by regulations and a Names Determination Instrument.
The Acts and subordinate legislation are available at ComLaw.