Parliament Passes Business Names Legislation

News >>

Legislation passed by the Australian Parliament 13 October 2011 means that for the first time Australian businesses will soon be able to pay just one fee and have only one process to register their business name nationally.

“This is a commonsense and practical reform that will cut red tape and save time and money for businesses across Australia,” said Minister for Small Business, Senator Nick Sherry, in welcoming the passage of the Bill in the Senate.

“A business operating and registering in every State and Territory currently faces a cost of more than $1,000 to register for three years. Under the new system, businesses will only face one fee of around $70 to register for the same period.

“All up, with other related initiatives like the Australian Business Licence and Information Service and the Australian Business Account, the new system will provide benefits of up to $1.5 billion over eight years to business, government and consumers.

“The national system is a key regulatory reform under the Council of Australian Government’s Seamless National Economy agenda.

“Australia is one economy, one market. Fragmented and inconsistent State and Territory regulation makes it harder to do business across borders and adds to the compliance burden for business. The current approach to registering business names is an example of this.

“The Australian Government is working with the States and Territories through the Seamless National Economy agenda to ensure we complete the transformation of Australia’s regulatory landscape and bring it into the 21st century.

“The Department of Finance and Deregulation estimates that 10 of the 27 Seamless National Economy regulatory reforms are worth about $3.5 billion per year to the economy as a whole, with $1.8 billion of this flowing to business.

“Our reforms will lift productivity, keep our economy strong and create jobs.”

All States and the Commonwealth need to pass legislation before the national business names register can commence. Tasmania and NSW have already passed their referral legislation. A referral bill is currently before the Queensland Parliament.

Depending on the passage of legislation through otherState parliaments, the national business names register will be operational by mid-2012.

Nick Sherry



Last changed: Oct 14 2011 at 9:50 PM


  1. None Found

Add Comment

Latest News

Three Years running - Insurance Brokerage of the Year 1 to 5 staff

Mandy and Robert Cooper were extremely honoured and astounded to once again win, Insurance Brokerage of the Year for 2020 from Insurance Business Australia magazine. This is the third year running.

While this year has not been the easiest of years for the business with Covid 19, the Recession, the hard market and issues at Lloyds of London, we are literally all in this together as an Insurance Industry.

CPR Insurance Services continues to make our clients the number one focus of our business while managing our relationships with Insurers, who we need more than ever in this market climate.

CPR Insurance Services are a highly ethical Brokerage with a reputation as a trusted advisor who always acts in the Client's best interests. Their experience, knowledge and expertise is amongst the highest in the industry.

CPR Insurance Services is now ten years old as a business and is proud of being an Authorised Representative of Ausure and their partnership with Steadfast, giving CPR the strength and backing to match it with any Broking firm in the Insurance Industry, but remain focussed on supporting the Small to Medium business segment.

Memberships of the National Insurance Brokers Association, Australia and New Zealand Institute of Insurance and Finance, Australian Insurance Law Association, Australian Professional Indemnity Group and the Australian Institute of Company Directors, ensures CPR Insurance Services maintains the high standard of knowledge and expertise required to be one of the best Brokerages in Australia.

CPR Insurance Services also plays a strong role in their local community supporting other Sporting Clubs and Community organisations. They also support and promote local businesses with their operation of the Kedron Brook Business Group who meet regularly and has 174 members.

We are truly honoured to receive this National award once again for the third year as a recognition of CPR Insurance Services contribution.

read more

Finalist for QLD Broker of the Year

Robert Cooper was honoured to be nominated as a finalist for Queensland Insurance Broker of the year for 2020, as part of the National Insurance Brokers Association. Unfortunately he missed out on the ultimate award but is a reflection of the high standard that the industry now has for such awards.

read more