Norfolk Island Reforms
In March 2015, the Australian Government announced comprehensive reforms for Norfolk Island (NI).
From 1 July 2016, new requirements for taxation and business registration apply.
Under the reforms, the Australian Securities and Investments Commission (ASIC) and Australian Taxation Office (ATO) assume responsibility for specific services.
- ASIC services
- What you need to do
- Existing Norfolk business names
- Searching the Norfolk Island Register
- New Norfolk business names
- Norfolk company registration
- Subscribe for updates
- ATO services
From 1 July 2016, the ASIC will be responsible for providing business registration services for Norfolk Island. ASIC is responsible for the Business Names Register and Companies Register.
Business name registration
A business name is simply a name under which you conduct a business. Unless you trade under your own name or fall within an exemption, you must register your business name.
The Business Names Register collects, stores and makes information available from businesses across Australia. Our online service, ASIC Connect, helps those wanting to register an available name, or identify who has a business name.
For those who do not have access to, or experience poor internet service, we can help you register a business name.
Under the national business names legislation:
- You only need to register a business name once to have national effect.
- When you sell your business, your business name can be transferred to a new owner.
- There are different types of 'holders' of business name, including: family trusts, partnerships and joint ventures which can be recorded on the Business Names Register.
- Register or renew a business name for one or three years.
From 5 September 2016, all registered Norfolk Island business names will be displayed on the Business Names Register. Your current registration will continue with ASIC. For example, if your Norfolk Island registration expires in May 2017, the Business Names Register will reflect that. We'll send you a notice 30 days before your business name renewal is due. The notice is sent by email if we have one, by post if not.
It is a good idea to create an online account with ASIC to update your registration details and an email address we can use to contact you.
Setting up your ASIC Connect account
In some cases, you may experience an issue with signing up for your ASIC Connect account. This is due to the requirement to enter a phone number when signing up.
To continue setting up your account, please enter your phone number using the 'Mobile' option. Input the number with a leading zero (0), followed by the area code 6723 and then your phone number.
We use your phone number to confirm your identity when calling us about an ASIC Connect account.
Please note, you must also select 'NSW' as the State/Territory when entering your address details.
If you have a business name on the Norfolk Island Register, you don't need to register the name with ASIC. Your business name registration will continue and ASIC will automatically update the Business Names Register with your details.
All Norfolk Island business names will be displayed on the Business Names Register. Use ASIC Connect to search for your details online.
Identifying Norfolk Island business names in ASIC Connect search results
Norfolk Island business name records will not reference:
- 'Former State/Territory' registration details
- 'Former identifier'. or
- 'Former State/Territory'.
To identify Norfolk Island business names, customers should refer to:
- the 'Principal place of business' (being an address on Norfolk Island), or
- the consolidated list of Norfolk Island business name registrations. This list will also contain the Norfolk Island registration number.
All new business names must have an ABN or be in the process of applying for one with the Australian Taxation Office (ATO). If you've applied for an ABN, the ATO will provide a reference number you can use to register a business.
The law for Norfolk Island companies has not changed. Companies currently registered under Norfolk Island law will remain and any new companies will continue to be registered with the Norfolk Island Companies Office.
Sign up for email updates from ASIC about the Norfolk Island Reforms by sending your name, *organisation and an email address to email@example.com (*optional).
To unsubscribe from receiving updates, send an email to firstname.lastname@example.org.
The ATO are responsible for the provision of tax registrations. These include Tax File Numbers (TFN's) and Australian Business Numbers (ABN's).
We will only record your email address if you send an email to the joining email address listed above. Your email address will be used only for the purpose for which you have given it or any other purpose permitted under the Privacy Act.
Your email address will not be added to any other mailing list. We will not disclose your email address without your consent except in circumstances where such use and disclosure is permitted under the Privacy Act.