QTPA Member Alert | National Business Names Register has Commenced (9/7/2012)

National Business Names Register has Commenced.

A new national business names registration system commenced on 28 May 2012.

The new online service has replaced separate state and territory services so businesses only need to register or renew a business name nationally and pay a single fee. The new national register is administered by the Australian Securities and Investments Commission (ASIC). Over 1.6 million existing state and territory business name registrations have been automatically transferred to ASIC’s national register.

From now on, all correspondence you receive regarding your business name will be from ASIC unless you have an existing application or renewal with the Office of Fair Trading (OFT).

If you have received a renewal notice from OFT and your business name was due to expire before 28 May 2012, you will need to renew in Queensland and pay the current Queensland fee as indicated on the notice. As the three year renewal fee with ASIC is cheaper than Queensland’s fee, it is suggested that you only pay to renew your business name for one year to reduce your costs. Please contact OFT for payment options.

Please also note that as from 28 May 2012, OFT no longer accepts changes to the details of your business. All changes to details should be sent to ASIC.

For further information on how the new national online service works, or to register, renew or search for a business name, visit the ASIC website.

Jim Vaughan

Chief Executive Officer