As a business owner, it is your responsibility to keep your Australian Business Number (ABN) details updated. It is a simple process you can do online using the Australian Business Register (ABR) services. You have up to 28 days to make the changes after they occur.

So why is it important to keep your ABN updated? All types of government agencies can use your ABN registration to provide community and emergency services. If your details are not current, then you could be missing out on grants and other support offered by the government.

Currently the Australian Taxation Office and ABR are reminding all business owners to keep their details up to date. During the bushfire emergency of 2019 – 2020 and COVID-19, it became obvious that the details of many ABNs were not current.

By updating your ABN, you ensure:

• Government agencies have your information; for example, for emergency services to get in contact if there is a natural disaster.
• The right people have permission to act on your behalf.
• That when new government services are available, you will receive notification.

Updating your Details is Simple

The easiest way to update your ABN details is by logging into myGovID or ask your accountant to do it for you.

There are some details you cannot update, including:

• Your business name.
• Legal names of sole traders and individuals.
• Legal names of businesses registered with the Australian Securities and Investments Commission (ASIC).

For name changes, contact the ATO or ASIC directly and they will automatically update the ABR.

So if your details are out of date, update them as soon as possible or ask your accountant to do it for you.