It can be an easy oversight to forget to update the ABN details in the Australian Business Register (ABR) when your business situation or circumstances change.
A businesses ABN details are used by emergency services and government agencies to help identify businesses in affected areas that might need help or support. If ABN details are out of date a business risks missing out on important assistance, updates, or opportunities such as grants.
Updating 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 a natural disaster.
- You are ready for new government services when they become available.
To make sure a business does not miss out on receiving important information, update your ABN details such as:
- Authorised contacts.
- The organisation’s physical location
(not the Tax Agent or BAS Agents’ address).
- Postal address.
- Email address.
- Phone number.
Take time to have a conversation with your BAS Agent or Bookkeeper regarding your business structure. Find out if your existing entities have more than one ABN, and whether these are still in operation. Should you find that they no longer operating be sure to cancel the ABN. Additionally, if the business structure has changed and the ABN in question is no longer valid, then cancel the ABN for the old structure and apply for a new ABN.
What Are The Obligations as an ABN Holder?
If you hold an ABN, legally you must notify the ABR within 28 days of any changes, such as changes to your name, address, and other contact details. If the ABR writes to you requesting information about your ABN entitlement or to confirm your identity or other details in the register, you must comply with this request. If you are no longer in business you need to request to have your ABN registration cancelled. You should do this once you have met all of your tax obligations.
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).
- Access the ABR information – ABR Website – Update your ABN information
Would You Prefer Your BAS Agents To Do This?
- The fastest way for a BAS Agents to update their client’s details is online through the ABR’s Tax professional’s services using myGovID. You must be already linked to your BAS Agent through ATO Online services for Agents.
- All changes made to a client’s ABN will take effect immediately if done through the Tax professionals services.
- For more information see ATO – Update your ABN details.