Definitions
Last updated
These definitions are provided for general information only and are not professional advice.
| Term | Description |
|---|---|
| Association | A body corporate registered as an association under relevant Australian state or territory legislation. |
| Australian business number (ABN) | A unique 11-digit number that incorporates a business’s Australian company number and identifies their business to the government and community. |
| Australian Business Register (ABR) | A repository that stores business and organisation details, including Australian business numbers, and verifies business information for the community and government. |
| Australian Business Registry Services (ABRS) | A registry service responsible for administering the director identification number (director ID) requirement for all current and intending directors. |
| Australian company number (ACN) | A unique 9-digit number given to a company when it is registered with the Australian Securities & Investments Commission. |
| Australian Registered Body Number (ARBN) | A unique 9-digit number given to an association or other organisation approved to be a registered Australian body. |
| Australian Securities & Investments Commission (ASIC) | Australia’s integrated corporate, markets, financial services and consumer credit regulator. |
| Australian Taxation Office (ATO) | The Australian Government’s principal revenue collection agency which administers the tax, superannuation and registry systems that support and fund services for Australians. |
| Authorised agent | A tax, BAS or ASIC registered agent. |
| Banned/disqualified person | A person who has been disqualified from managing a corporation or banned from practising in the financial services or credit industry. |
| Business | An entity that intends to make a profit and performs activity that is planned, organised and carried out in a businesslike manner. |
| Business activity statement (BAS) | A form used by businesses registered for GST to report their business tax entitlements and obligations. Also known as activity statement. |
| Commonwealth Ombudsman | The office that safeguards the community in its dealings with the Australian Government by handling complaints and conducting investigations, audits and inspections. |
| Company | A body corporate registered in Australia under the Corporations Act 2001. |
| Corporation | An organisation which, under the Corporations Act 2001, can be a company, body corporate, or a certain kind of unincorporated body. |
| Director | A person responsible for overseeing the affairs of a company, who must comply with their legal obligations as a director under the Corporations Act 2001. |
| Director ID | A director ID is a 15-digit identifier given to a director (or someone who intends to become a director) who has verified their identity with us. |
| Disqualified person (business names) |
A person who is disqualified from holding a business name because they either:
|
| Disqualified SMSF auditor | An SMSF auditor who has been disqualified from conducting audits on self-managed superannuation funds. |
| Eligible officer | A person appointed as a director, or a person appointed to the position of alternate director and acting in that capacity (regardless of the name that is given to that position). |
| Foreign company | An incorporated or unincorporated body that is formed in an external territory or outside Australia and registered under the Corporations Act 2001. |
| Freedom of information (FOI) | The Freedom of Information Act 1982 gives you the right to request access to government-held information. This includes information held about you or about government policies and decisions. |
| Illegal phoenix activity | An activity that occurs when a company is liquidated, wound up or abandoned to avoid paying its debts, and a new company is then started to continue the same business activities without the debt. |
| Individual | A natural person. |
| Modernising Business Registers (MBR) | The program ceased in August 2023 after the delivery of director ID and the Australian Business Registry Services. Read more about MBR at About us. |
| myGov | An account that provides access to many government services online in one place. |
| myID | A unique digital identity accessed via an app, enabling businesses to verify their identity and securely sign in to participating government online services, such as myGov. |
| Office of the Australian Information Commissioner (OAIC) | An independent agency within the Attorney-General’s portfolio with responsibility for privacy, freedom of information and government information policy. |
| Office of the Registrar of Indigenous Corporations (ORIC) | The office that supports and regulates Indigenous corporations with advice, training and compliance activities. |
| Other name | Former names that are verified with appropriate proof of identity. |
| Other name (unverified) | Names provided to the registrar that have not been verified with supporting documents for proof of identity. |
| Proof of identity (POI) | A significant document like a passport or birth certificate which proves that verifies you are who you say you are. |
| Proof of record ownership (PORO) | The process of proving that you are the person on our ATO records. |
| Privacy Act | Privacy Act 1988 – an Act of Parliament which, among other things, protects tax file numbers against misuse. |
| Registered Australian body | Includes bodies corporate that are not companies, recognised companies (except public authorities), corporations sole, foreign companies or financial institutions. |
| Registered foreign company | An incorporated or unincorporated company that is formed in an external territory or outside Australia and registered under the Corporations Act 2001. |
| Registrar | The Registrar of Australian Business Registry Services, who is responsible for administering the ABN law and director ID initiative. |
| Tax file number (TFN) | A unique number issued by the Australian Taxation Office that identifies individuals for tax and super purposes. |
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