Key Points:
The new system of business names will reduce costs and
make renewals simpler
New rules for business names will largely be good news for
medium-to-large businesses. However, there are a few downsides as
well.
The rules are contained in a Business Names Registration Bill
passed by Federal Parliament earlier this month. They will replace
individual State and Territory business names legislation when the
States and Territories have made the necessary legislative
changes.
Background
If you carry on business under a name which isn't your
personal name or company name, you must register it as a business
name.
At present, business names are registered on a State-by-State
basis. That means that a name must be registered in each State and
Territory in which it is used.
