What’s the difference?
According to Business.gov.au
Excerpts from the above explain as follows
- “Trading Name” is an old term used interchangeably with “Business Name”
- “Business Name” is the correct term and is the title you trade under.
- You can link multiple “business names” to your ABN – see below
- “Legal Name” is the name of the entity for legal purposes. (ICB comment: Business Names are owned by the legal entity)
- You MUST register your “business name” if it is different to your legal name, in order to use it (click here)
- It is now ONE NATIONAL business names register ie no more register in every state
All that is fine BUT..
Abr.business.gov.au also advises
- To apply for a registered business name you must have or be in the process of registering for an ABN
- New business names will automatically update the ABR / ABN Lookup (ASIC will do it!!!)
- To register, change or cancel a business name click here
- Business names registered prior to 29 May 2012 may not currently appear on your ABN records.
“Trading names will NOT be fixed on the ABR / ABN lookup until 2018” Any trading name connected to an ABN as of 28 May 2012 will stay connected to the ABN until 2018 regardless. (The delay seems to make a mockery of the whole identify your supplier requirement but hey.
Source: ICB July 2014 Newsletter