Australian Company Number
Encyclopedia
An Australian Company Number (usually shortened to ACN) is a unique nine-digit number issued by the Australian Securities and Investments Commission
Australian Securities and Investments Commission
The Australian Securities & Investments Commission is an independent Australian government body that acts as Australia's corporate regulator...

 (ASIC) to every company registered under the Commonwealth Corporations Act 2001 as an identifier. The number is usually printed in three groups of three digits. It must be quoted on all correspondence and invoices issued by that company. A similar system is used for non-company entities such as trusts, and for foreign companies.

ABN

A company's Australian Business Number
Australian Business Number
The Australian Business Number, or ABN, is a unique identifier issued by the Australian Business Register which is operated by the Australian Taxation Office...

 (ABN) frequently includes the ACN as the last nine digits. The ABN indicates that a person, trust or company is registered with the Australian Business Register (ABR). The ABR facilitates and streamlines many Australian business-to-government and government-to-business processes, such as Australian Tax Office transactions involving the collection and remittance of the Goods and Services Tax
Goods and Services Tax
A goods and services tax or value added tax is a tax on exchanges.By country:*Goods and Services Tax *Goods and Services Tax *Goods and Services Tax *Goods and Services Tax...

 (GST
GST
-Computing:* Generalised suffix tree, a tree-like data structure* GNOME System Tools, part of the GNOME desktop environment* GNU Smalltalk, an implementation of the Smalltalk language* GST Computer Systems, a group of companies based in Cambridge, England...

).

Companies are required to disclose their ACN on: the common seal (if any) and every other seal of the company (if any); every public document issued, signed or published by, or on behalf of, the company;
every eligible negotiable instrument issued, signed or published by, or on behalf of, the company; and all documents required to be lodged with ASIC.

An ACN is not required on (at least): packaging and labelling, including envelopes and transport documents; advertisements which do not make a specific offer which is capable of being accepted (such as advertisements which only promote the company and its goods or services in general); credit cards and credit card vouchers; machine-generated receipts, including cash-register receipts; business cards and 'with compliments' slips; and items which are not documents (eg, vehicles, television advertisements).

An ACN remains unchanged even if a company has a name change or is deregistered.

A similar Australian Registered Body Number (ARBN) is used for non-company entities such as registerable Australian bodies, and for foreign companies.

Number generation

The ACN is generated using an algorithm with the last digit being a check digit allowing the number to be verified.

Purpose of ACNs

Prior to the introduction of the 9 digit ACN, company information was filed under the company name, which might vary from 1 to 80 characters. This is an inefficient way to run a filing system, and can lead to problems, particularly if two company names differ in one of the middle digits, for example: Strudle Pty Ltd and Stradle Pty Ltd.

ACNs help reduce fraud by firstly clearly differentiating companies and/or subsidiaries with similar names, since companies with similar names will tend to have completely different ACNs.

Also if a company changes its name for any reason, including phoenix company
Phoenix company
A phoenix company is a commercial entity which has emerged from the collapse of another through insolvency.The new company is set up to trade in the same or similar trading activities as the former, and is able to present the appearance of "business as usual" to its customers.-Phoenix Companies in...

, the ACN remains the same.

Other countries

  • Cambodia
    • C/O 2456/096 - The Railways Transport Co-operation (RTC Co. Ltd.)
  • United Kingdom - Registered number.
    • company number 00037038 - The Equitable Life Assurance Society
  • United States
    • Registered Identification Number
      Registered Identification Number
      A registered identification number is a number issued by the Federal Trade Commission, upon request, to a business residing in the United States that is engaged in the manufacture, importation, distribution, or sale of textile, wool, or fur products.Such businesses are not required to have RNs...


External links

The source of this article is wikipedia, the free encyclopedia.  The text of this article is licensed under the GFDL.
 
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