As a business owner, you are responsible for ensuring that you update your Australian Business Number (ABN) details. If there has been a change to your business, you are required to let the Australian Business Register (ABR) know of the change within 28 days of becoming aware of the change. You can use ABN Lookup to check whether your ABN details are up to date.
Updating your ABN details will ensure:
the right people have the right permissions to act on behalf of a business;
government agencies have current information – for example, if emergency services need to contact businesses during natural disasters; and
you are ready for new government services when they become available.
What You Need to Update
You may need to update your ABN details if any of the following things change:
legal name of the entity, except for:
individuals and sole traders (you will need to notify the Australian Tax Office (ATO) directly who will let the ABR know of the change); and
companies registered with the Australian Securities and Investments Commission (ASIC) (you will need to notify ASIC directly who will let the ABR know of the change);
addresses – postal, principal place of business or email;
the main business activity and industry code for the business;
business structure;
contact details; or
associate details.
How to update your ABN Details
The fastest way to update your details is through ABR online services. Log in using myGovID and Relationship Authorisation Manager (RAM). All changes made to your ABN online will take effect immediately.
Alternative Ways to Update Your ABN Details
You can contact the ABR directly or you can fill in a form that can be submitted by mail.
Failing to update your details
If you fail to update your details within 28 days, you may face penalties by the ATO. Under the Taxation Administration Act 1953 (Cth) s 8C, failure to comply carries up to a $4,400 fine. An increased fine may apply if you have previously failed to comply with ATO obligations.
Contact our office for more information or if you would like assistance with updating your ABN details.
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