What is the Difference Between ABN and Business Name?

The main difference between an ABN (Australian Business Number) and a business name lies in their purpose and usage. Here are the key differences:

• ABN: An ABN is an 11-digit unique identification number issued by the Australian Taxation Office (ATO) to identify your business in Australia. It is required for all businesses operating in Australia, regardless of their structure, such as sole trader, partnership, trust, or company. An ABN does not replace your tax file number.
• Business Name: A business name is the trading name under which a business operates. If you trade under a name that is not your individual name or the legal name of the company, you need to register a business name. It is registered nationally with the Australian Securities and Investment Commission (ASIC). A business name is publicly known and under which the business trades.

In summary, an ABN is an identification number for your business, while a business name is the name under which your business operates and trades. You will likely need an ABN to run a business in Australia, and if your business operates under a name different from your individual name or the legal name of the company, you will need to register a business name.

Comparative Table: ABN vs Business Name

Here is a table comparing the differences between an Australian Business Number (ABN) and a Business Name:

In summary, an ABN is an identification number required for businesses operating in Australia, while a business name is the trading name under which a business operates. An ABN is registered with the ATO, and a business name is registered with ASIC. A business name is attached to an ABN, and multiple business names can be registered under the same ABN if they operate under the same business structure.