The Government is modernising business registers to support businesses in an evolving digital economy. The Government has decided that the modernised registers will be administered by the Australian Business Registrar within the Australian Taxation Office (ATO). Over the next year, a detailed business case and options for streamlining registry functions and upgrading technology systems will be developed for consideration by Government in 2019.
Registers administered by the Australian Securities and Investments Commission (ASIC) and the Australian Business Register (ABR) will be moved to the modern systems. This includes the registers for companies, business names, Australian Business Numbers and others.
A modernised business registry system will provide the backbone for transforming the way business interacts with government, making it simpler and faster to start and run a business. It will provide opportunities to foster open data and more innovative uses of business data.
The Government will continue to work with the community to further develop future options for modernising business registers, including technology, governance, user experience, data accessibility, and legislation.
This community engagement will also include testing implementation options for a Director Identification Number (DIN). The DIN will enhance the integrity of company formation and acquisitions by allowing regulators to confirm the identity of company directors.
The Treasury, ATO, ASIC, Department of Industry, Innovation and Science and the Digital Transformation Agency are working together to modernise the business registers.
Consumer and Corporations Policy Division
PARKES ACT 2600
Non-confidential submissions for this consultation are available on consult.treasury.gov.au