Registering an ABN

[mizzamzz]

Hi, I am wanting to register my business name for an ABN so it doesn't get snatched up.

I read somewhere that once an ABN is registered though you need to begin trading within 2 months.
Is this correct or have I misinterpreted it?

I am wanting to start creating 'hype' around my new business while it is in the making, as we don't anticipate the actual business launching until the 2012/2013 financial year, so I am wanting to register it so no one else does once I start promoting it.

When I say 'promoting it' I just mean creating a facebook pages with something like 'mybusinessname coming soon' and giving them a couple of clues as to what it could be so that we will have a good audience to launch to once the time comes and also we have registered the domain for a website so we would like to put a 'mybusinessname coming soon' landing page for that as well.

Can I register the ABN and not technically "trade" anything until next financial year?

I'm sorry if this sounds a bit blonde (well... I am blonde, but still..) but I'm quite new to all this 'new business', business.

Thanks so much in advance for your help!

[mizzamzz]

Thanks for your feedback dhawangoyal123. Those websites have a LOT of information. While I appreciate your advice, I was hoping someone could just give me a short yes or no answer as to whether I can register an ABN and not start trading until the next financial year.

I'm not even sure where to start looking on those 2 websites, and I'm not in a position to hire an accountant to ask this question at this point in time.

Thanks though, I will slowly start reading information on both of those websites.

[v2Media]

When you register the abn, you have the option of giving a date for commencement of trade.

[mizzamzz]

Thanks v2Media!!

[JakeThomas]

Was just about to write what Mark wrote.

Remember though, that the ABN is just your license to be able to trade, if you are worried about others taking your name you will need to at the very least register your business name or if you have the funds, trademark it.

- Jake

[mizzamzz]

Thanks Jake, I didn't realise until I read your post that an ABN and registering a business name were separate.
I'm now off to start the process of registering the business name, registering for an ABN and trademarking the name.

Thanks so much for your help.

[Salmin]

Just adding my two cents.

ABN Registrations are done at the ABN Registration Website (ABR).
This is where you register for GST, PAYG, Fuel Credits etc and is largely to do with your tax and admin.

Business name registration is done via the Office of Fair Trading and is separate to your ABN.

Company registration is done via ASIC and creates a new legal entity.
When I do it for clients we usually use cleardocs (they charge an extra $100 but it's worth it)

If you want to do all three, the process goes

ACN...ABN...Business Name

If you already have a business name, you'll need to download a "form 6- change of proprietor" form from the OFT to transfer it from yourself to the company.

*Plug* I run an business that provides trade show equipment to SBE owners. If you're looking to exhibit, www.tacticaldisplays.com.au will take care of you.

Salmin