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Business Registration

Business Registration is the formal process of establishing a business with the Australian Taxation Office (ATO) and, where required, ASIC. Registration provides the business with an ABN, and for companies, an ACN. Lenders use registration information to verify identity, trading start date, and eligibility for Business Loans, Low Doc Asset Finance, and Working Capital Loans.

Why Business Registration Matters in Lending

Lenders rely on business registration data to validate that the business exists and has sufficient trading history. Registration details help verify:

  • Business identity and legal structure (sole trader, trust, company)
  • Trading start date for low doc lending
  • GST registration and tax status
  • Director and shareholder details
  • Authorised signatories for loan contracts

Business Registration sits alongside ASIC, ABN, and Company Constitution when lenders assess risk and eligibility.

How Business Registration Works

  • Apply for an ABN through the ATO
  • Companies register with ASIC and receive an ACN
  • Trusts require a Trust Deed before ABN registration
  • Registration records are checked by lenders for verification
  • Changes must be updated promptly to avoid loan delays

Official source: business.gov.au

Is Business Registration mandatory?
Yes — every business operating in Australia must be registered with the ATO.
Do all businesses need an ACN?
No — only companies need an ACN. Sole traders and partnerships only require an ABN.
Does registration age affect loan approval?
Yes — many lenders require 6–12 months of active ABN trading for low doc loans.
Can business details be changed after registration?
Yes — changes must be updated with the ATO and ASIC where applicable.
Does registration prove income?
No — lenders still assess bank statements, BAS, or turnover evidence.