Privacy concerns raised by home-based businesses have been alleviated following an announcement by the Australian Securities & Investment Commission (ASIC).
There is now the option of using a postal address instead of a physical address.
The chief regulator announced that the move would also benefit rural and remote businesses where mail often can’t be delivered to a physical address. New businesses can provide a postal address when completing their registration.
Business name holders can now also add their Australian Business Number (ABN) to their registration using ASIC Connect.
This will benefit businesses registered before 28 May 2012 whose ABN’s were not always recorded. “Until now, these business name holders had to complete a paper transaction. If your ABN is held by a company, trust, joint venture or association you will still need to complete the paper transaction,” ASIC said in a statement.
More information on business names is available on the ASIC website – the Register your business name page includes information on how to register a business name.