{"id":5552,"date":"2021-03-03T12:54:49","date_gmt":"2021-03-03T01:54:49","guid":{"rendered":"https:\/\/mnygroup.wpengine.com\/?p=5552"},"modified":"2025-02-01T18:47:31","modified_gmt":"2025-02-01T07:47:31","slug":"update-your-abn-or-miss-out","status":"publish","type":"post","link":"https:\/\/mnygroup.com.au\/en\/update-your-abn-or-miss-out\/","title":{"rendered":"Update Your ABN \u2026 or Miss Out!"},"content":{"rendered":"<p><span style=\"color: #000000;\"><nav aria-label=\"breadcrumbs\" class=\"rank-math-breadcrumb\"><p><span class=\"last\">Home<\/span><\/p><\/nav><\/span><\/p>\n<blockquote><p>Government agencies regularly access data contained in the ABN registration, and where this is not up-to-date the taxpayer may be missing out on stimulus measures, grants, and other government support.<\/p><\/blockquote>\n<p><span style=\"color: #000000;\">This became painfully evident during the 2019-20 bushfires, and is now re-surfacing during COVID-19 when it was found that a concerning amount of ABN data was out-of-date.<\/span><\/p>\n<p><span style=\"color: #000000;\">The ATO and the Australian Business Register are making efforts to remind businesses and relevant taxpayers that it is essential to ensure ABN registration details are accurate and completely up-to-date.<\/span><\/p>\n<p><span style=\"color: #000000;\">It is a business owner\u2019s responsibility to make sure this is done. Once a business owner is aware of a change to the business, details on the register must be altered within 28 days. Updating ABN details will ensure:<\/span><\/p>\n<ul>\n<li><span style=\"color: #000000;\">the right people have the right permissions to act on behalf of a business<\/span><\/li>\n<li><span style=\"color: #000000;\">government agencies have current information \u2013 for example, if emergency services need to contact businesses during natural disasters<\/span><\/li>\n<li><span style=\"color: #000000;\">the entity is ready for new government services when they become available.<\/span><\/li>\n<\/ul>\n<p><span style=\"color: #000000;\">The fastest way to update details is through ABR online services. All changes made to your ABN online will take effect immediately. There is also a paper form that can be completed, and we can get a copy of this for you should you need it. Proof of identity may be required when you make changes to ABN details.<\/span><\/p>\n<p><span style=\"color: #000000;\">Note that a business can\u2019t update:<\/span><\/p>\n<ul>\n<li><span style=\"color: #000000;\">business names<\/span><\/li>\n<li><span style=\"color: #000000;\">legal names for individuals and sole traders who need to contact the ATO directly<\/span><\/li>\n<li><span style=\"color: #000000;\">legal names for companies registered with the Australian Securities &amp; Investments Commission (ASIC).<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"color: #000000;\"><em>Related Resource: <\/em><\/span><\/strong><\/p>\n<p><a href=\"https:\/\/www.abr.gov.au\/\" target=\"_blank\" rel=\"noopener\"><em><span style=\"color: #000000;\"><span style=\"color: #0000ff;\">Australian Business Register<\/span><\/span><\/em><\/a><\/p>\n<p style=\"text-align: center;\"><strong><a href=\"https:\/\/mnygroup.com.au\/\">www.mnygroup.com<\/a><\/strong><\/p>\n<p><span style=\"color: #999999;\"><em>This information has been prepared without taking into account your objectives, financial situation or needs. Because of this, you should, before acting on this information, consider its appropriateness, having regard to your objectives, financial situation or needs.<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Government agencies regularly access data contained in the ABN registration, and where this is not up-to-date the taxpayer may be missing out on stimulus measures, grants, and other government support.<\/p>\n","protected":false},"author":13,"featured_media":5553,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1689],"tags":[1471],"class_list":["post-5552","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounting-advice","tag-australian-business-register","masonry-post","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-20"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/posts\/5552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/comments?post=5552"}],"version-history":[{"count":0,"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/posts\/5552\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/media\/5553"}],"wp:attachment":[{"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/media?parent=5552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/categories?post=5552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/tags?post=5552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}