Continuing to advance a single domestic market for services
Action 2.1C
The Government will modernise business registers so that businesses can quickly view, update and maintain their business registry data in one location.
recommendation/s
The Government should develop a program of national regulatory reform to deal with domestic regulatory impediments and inefficiencies.
Progress to date
In the 2020-21 Budget, the Government committed $419.9 million to enable the full implementation of the Modernising Business Registers program, allowing businesses to quickly view, update and maintain their business registry data in one location. A program milestone was achieved in April 2021 with the appointment of the Commissioner of Taxation as the Commonwealth Registrar and the announcement of the Australian Business Registry Services.
Australian Business Registry Services (ABRS) is a new service that will streamline how you register, view and maintain your business information with government. When fully established, it will bring the Australian Business Register (ABR) and more than 30 Australian Securities and Investments Commission (ASIC) registers together in one place.
ABRS is being established as part of the Modernising Business Registers (MBR) program. The vision for ABRS is that it will become the custodian of trusted business information and a world-class provider of services used by businesses, communities and government agencies to unlock economic and social value for Australia. The new registry service will:
- make it easier for businesses to meet their registration obligations – giving them more time to focus on their customers and business operations
- improve the efficiency of registry service transactions
- make business information more trusted and valuable.
Visit the ABRS website for more information.