The government has decided to extend the display of trading names on the ABN Lookup from 1 November 2018 to 31 October 2023.
The display of existing trading names on the ABN lookup was due to expire this month, following the launch of the Business Names Register in 2012 which required all businesses to register a business name with ASIC.
The ABN lookup is an integral tool for the integrity of the business and GST systems. A valid ABN is required and when paying a supplier, especially when it includes GST, a business should check that the supplier is quoting their own ABN and that they are registered for GST.
While the government expects to implement changes to modernise the business registry system over the next few years you should register a business name as best practice.
If you have any questions about how to register a business name, please contact Helen Bunford of our office on 9387 5637.
Source: Accountants Daily
