One National Stop for Registering your Business Name

As part of a growing trend for legislation to be nationalised, each State has agreed to refer their power to administer business name registration to the Federal Government. The Australian Securities and Investment Commission (ASIC) will be responsible for administering the new system. This initiative is designed to reduce red tape, save time, cut costs and give more certainty to Australian businesses when registering and dealing with registered business names.



The new National Business Names Registration Service is expected to go live on 28 May 2012, dependent on the passage of legislation through the state parliaments.


How will the new system affect you?

There will be many positive changes for you as the consumer when the new system is in place, including:

  • Registration fees under the new system will be less than the current fees payable in most States and Territories
  • An applicant will only have to make one application for the business regardless of how many States or Territories the business operates in
  • An application can be done in conjunction with an application for an ABN
  • An application can be done 24 hours a day, 7 days a week
  • You will be able to undertake due diligence investigations into the holder of the business name for free, with a small fee payable for additional information, similar to undertaking a company search through ASIC

Will the new system protect your trademark?

No. The registration of a business name does not protect a business owner’s trademark. It is very important for business owners to register their trademark so they have the exclusive right to use the brand connected to their business.

What happens if you already have a registered business name?

All names currently registered in various States will automatically be transferred to the new system at no cost. Of course, renewal fees will be payable of approximately $30 for one year renewals and $70 for three year renewals.


If you would like more information on this topic, please feel free to contact Peter McLaughlin of our office on (07) 3223 6100 or peterm@redchip.com.au


Back to Articles
Redchip

Recent Articles

empty hall
Major change to the Commercial Building Disclosure Program

From 1 July 2017, expansion of the CBD Program will require most sellers and lessors of office space 1,000 square metres or more to obtain a Building Energy Efficiency Certificate before the building goes on the market.

Read more
With House Model And Stack Of Coins On Desk
GST and new property sales

From 1 July 2018, purchasers of new residential premises (new homes or apartments) and subdivided residential lots will need to pay any applicable GST on the sale directly to the ATO.

Read more
aircraft Wing
Investors lose depreciation and travel deductions

From 1 July 2017, Australian Residential Property Investors will lose two long-standing tax deductions for residential properties as a result of the Federal Budget 2017.

Read more