Business Name Registration
A business name, otherwise known as a trading name, is an operating vehicle used by
sole traders,
partnerships or
companies so the business can be identified by its customers.
To register a trading name of a business in a particular state, you must complete a
business name application.
The business must occupy a local address within the state reported on
the application. Currently, it is possible to have a competitor to your
business register the same or similar trading (business) name in another
state.
Business Name Registration Costs
Business name registration is
carried out on a state-by-state basis where the registration period and
fees for each state are different. For example, the Northern Territory
ASIC business name fee is $65.00 where the NSW fee for the same period (3
years) is $152.00. The most common registration period amongst the
states is three years and the renewal fees vary between each state.
Business Name Registration Fees
$175.00 Registration of Business Name in Victoria
$235.00 Registration of Business Name in New South Wales
$220.00 Registration of Business Name in Western Australia
$220.00 Registration of Business Name in Tasmania
$330.00 Registration of Business Name in Queensland
$235.00 Registration of Business Name in South Australia
$235.00 Registration of Business Name in ACT
Business Name Registration
Does not create a legal entity (only registering a company creates a legal entity) or
allows for privileges such as a corporate tax rate or limited liability.
As business names have no legal status, the responsibility is on the owner to repay the debts incurred.
Who can own a Business Name?
Why Register a Business Name?
For people starting out in business, operating under a business name is the most common approach as the establishment costs are low and the ongoing process is neither complicated nor expensive.
Given that the expenses associated with a business name are relatively low, there is no asset protection, tax advantage or limited liability for the owners. When considering which business structure is suitable to your circumstances, this should definitely be taken into consideration.
If you are wanting Australia wide recognition for your business, then registering a business name in each state would certainly become expensive and a logistical nightmare if you do not operate in every state and territory.
Setting up a company may be a more cost effective and simplified way to secure your business' name across Australia.
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You can also call our office on
1300 722 796 or send us an
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