Trading Names & Business Names – ASIC is cancelling 30,000 business names that haven’t been renewed with ASIC

The Australian Taxation Office will remove all Trading Names from the Australian Business Register this November.

At the same time, ASIC will cancel up to 30,000 business names that have not been renewed following the change from the state based registers to ASIC.

If your business name is cancelled, you will be advised via a letter that will be sent to your business name’s ‘service address.’

Should you wish to renew your business name registration or would like to check the status of your business name, please contact your adviser and they will be able to assist you in this process.

Please note that all business names are now required to be registered with ASIC and linked to an ABN.

Cost of registration – One year $36.00 or three years $84.00

Thinking of registering a name and not sure it is available?

You can use the ASIC ‘Check business name availability‘ search to see if your business name is available.

You won’t be able to automatically register a business name if:

  • It’s identical or nearly identical to a name that is already registered.
  • It’s ‘undesirable’ (for example, it’s considered offensive).
  • It contains a restricted word or expression like ‘charity’ or ‘police’.
  • It includes invalid characters, like umlauts (ä).

When you check to see if your name is available, you’ll get one of three results:

  • Green – the name is available and you can apply to register it.
  • Amber – you can apply to register the name, but your application will need to be reviewed to make sure that it’s available.
  • Red – the name is not available.

If you have any questions about this, or would like more information about ASIC or the Australian Business Register, please contact your Findex adviser.

Kerryn Edwards

Client Services Manager