topic Re: Business set up question in Selling

Business set up question

surfsunrise — Tue, 17 Mar 2015 04:58:08 GMT

Hi all, just wondering if someone could clarify a question i have. If i have a pty ltd company set up but wish to trade under a different name do i need to register that name and set up bank account and ABN for that or do i operate with the pty ltd company's bank account, ABN etc?? Any advice would be great thanks.

Re: Business set up question

Anonymous — Tue, 17 Mar 2015 05:05:40 GMT

There are many PTY LTD companies trading under a different trading name.

For example XYZ P/L T/as WackyTacky Junk with all there banking etc linked to their P/L company name as stock holder.

Re: Business set up question

saarzi — Tue, 17 Mar 2015 13:48:23 GMT

YES, you need to register the name.

NO, you dont need tp set up new bank accounts and ABNs for it.

Your LEGAL NAME is the COMPANY that you originally registered with ASIC. It is the name on all of your legal documents, anything you got from Asic, your bank accounts, etc etc. This name doesnt have to be seperately registered as a business name - when you registed the company with ASIC, whatever name you used (even if it was only your own personal name e.g. john Smith), then thats your companies legal name (its kinda auto-registered).

A trading name (or now known as 'business name') is a name you want to trade under, that can be different to your legal name. You can have as many as you like usually, but ALL must be registered.

So, you will be "ABC pty ltd (legal name) trading as XYZ (trading / business name)".

Re: Business set up question

saarzi — Tue, 17 Mar 2015 13:53:11 GMT

Dont forget to trade mark your business name, or anyone can use it - just registering the business does not protect you.

Re: Business set up question

surfsunrise — Wed, 18 Mar 2015 01:07:16 GMT

Thanks very much. Just the info i was wanting. Cheers.