Business Name Registration - CapitalQ

Business Name Registration

The system for registering Business Names is now handled by ASIC, in replacement of the old State-based systems.

It has removed much of the flexibility associated with registering a business name and adds to the importance of getting it right.

First things first, if you want to trade using a name other than your own, you must register a business name. It is against the law to do otherwise. Not to mention a poor business practice as you have no protection over your name.

The name needs to be registered via an ABN, the right ABN

The registration of a business name takes on even great importance when there are unrelated parties involved in a business. In order for everyone’s rights to be protected, it must be registered correctly.

Some other key points to keep in mind

  • A domain name, is not a business name, holding a domain name doesn’t give you the right to run a business under that name
  • While owning the business name is important, the protections it provides your business has its limitations.
  • Don’t let your registration lapse, as soon as you do, someone else could pinch it out from under you

On the topic of domain names

With alarming frequency, we come across businesses that have the ownership of their domain names incorrectly structured. This is of major concern when there are unrelated parties involved in a business, so make sure you get it right, all your rights could be seriously in jeopardy.

Regardless, if your domain name is an important component of your business (as is the case for most businesses these days) if it is held outside your business structure, it could result in unforeseen tax consequences in places you don’t expect when you sell.

It could also find itself at the mercy of Creditors if it technically fell outside the protection of your business structure we worked so hard to secure.

On the topic of protections provided by registering a business name

A Trademark is much more protection than just a business name. Yes, there are costs involved, and of course, a solicitor is required in this regard. But we would encourage you to consider registering your Trademark and we can point you in the direction of good people who can help should you so desire.

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What our customers say

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CapitalQ helped me get off the 9 to 5 treadmill and effectively retire from real work in my late twenties.

I am a property person through and through. I believe there is no better way to build genuine wealth than via property. I have undertaken residential property investing and residential property developments (large and small) and as a result effectively retired from real work in my late 20s. Throughout that time Duncan and the Team at CapitalQ have been my partners (both as advisers and at times literally by taking interests in my projects). I would recommend to anyone thinking about venturing into property investing to ensure CapitalQ are part of the process and watching your back. You need sound personal budgeting, investment analysis, project costing, appropriate structuring, short term and long-term tax planning and ongoing tax advice (and not just covering Income Tax but also GST, Land Tax, Stamp Duty, the list goes on). CapitalQ know all aspects of the property game, and have the hands-on experience as well. Many think property investing is easy, but I can assure you, without the right partner providing the right advice, you will come undone.
Ray Ellis Ray Ellis

Ray Ellis

Property Investor and now owner of Xceed Real Estate

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