Introduction of the National Business Names Register
On 28 May 2012, the business name registers will be nationalised to form one register for all business names in all states of Australia. This register will be administered by the Australian Securities and Investments Commission (ASIC) rather than the state Office of State Revenues.
The new register will be beneficial to all business as it will:
- Eliminate the need for multiple registrations by companies that operate interstate;
- All registration and renewals of registration will be able to be conducted online;
- Registration will also include registration of ABNâ€™s; and
- The fees for business names (in Queensland) will be reduced.
We are informed that the transition will occur to the new register by Monday 28 May 2012 and that as a business name owner you do not have to do anything for the change to occur.
Duplicate names will be dealt with as follows where the owner of the business name is:
- the same in multiple jurisdictions they will be merged into one; and
- different the name of the state will be included at the end of the business name.
This will affect any person buying a new business. Contact us today if you require assistance with the registration of a business name.