Question: Do I need to inform someone when my business details change?
Answer:Yes. You need to contact the Australian Taxation Office (ATO) to inform them of changes to the details you originally gave in your ABN registration within 28 days of the changes. The main reason for this is that details of your business are recorded in the Australian Business Register and must be kept up to date so that they and other businesses can access and verify your business details.
If the structure of your business has changed, you will also need to apply for a new ABN.
Common things you might need to register are changes to the name, address and activity of the business, names of associates and trustees, account details etc. False or misleading statements carry a penalty of up to $10,200 so it’s important to make sure all details you provide are accurate!
You can update your details online through the ATO or ABR websites.
