It can be an easy oversight to forget to update the ABN details when your business situation or circumstances change.

If you’ve ever forgotten to update your ABN in the Australian Business Register (ABR), this article will remind us all why it’s so important.

ABN’s are necessary for emergency services and government agencies to identify businesses in affected areas that might need help or support. If your company’s details are out of date, it risks missing important assistance updates & opportunities such as grants.

Updating ABN details will ensure:

The right people have the right permissions to act on behalf of a business.

Government agencies have current information – for example, if you are ready for new government services when they become available.

To make sure a business does not miss out on receiving important information, update your ABN details such as:

• Authorised contacts
• The organisation’s physical location (not the Tax Agent or BAS Agents’ address)
• Postal address
• Email address
• Phone number

Wondering how to keep your business running? Take time to talk with your BAS agent about your business structure and what’s best for you. Find out if your existing entities have more than one ABN, as well as whether they’re still currently in operation – don’t forget that this could mean canceling them!

Additionally, if the business structure has changed and the ABN in question is no longer valid, then cancel the ABN for the old structure and apply for a new ABN.

If you’re unsure about the status of your ABN, get in touch with us and we’ll be happy to help.

What Are The Obligations as an ABN Holder?

If you hold an ABN, legally you must notify the ABR within 28 days of any changes, such as changes to your name, address, and other contact details. If the ABR writes to you requesting information about your ABN entitlement or to confirm your identity or other details in the register, you must comply with this request. If you are no longer in business you need to request to have your ABN registration cancelled. You should do this once you have met all of your tax obligations.

How to Update Your ABN Details

The fastest way to update your details is through ABR online services.

Log in using myGovID and Relationship Authorisation Manager (RAM).

>> Access the ABR information – ABR Website – Update your ABN information

Would You Prefer Your BAS Agent To Do This?

The fastest way for a BAS Agent to update their client’s details is online through the ABR’s Tax professional’s services using myGovID.

All changes made to a client’s ABN will take effect immediately if done through the Tax professionals services.

We hope you’ve found this information helpful. If you’d like us to help with updating your ABN, please let us know.

Thanks for reading!