ASIC responds to privacy concerns for Home Based Businesses

The Australian Securities & Investment Commission (ASIC), has responded to privacy concerns raised by home-based businesses by giving them the option of using a postal address instead of a physical address when registering a business.

This also benefits 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.

Visit the ASIC website for more information on business names.

This information is brought to you by business.gov.au