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The Australian Company Number (ACN) is a unique 9-digit identifier that is required by every company registered under Australia's Corporations Act 2001. The ACN is issued by the Australian Securities and Investments Commission (ASIC) and is used to monitor companies and ensure they are operating within legal and regulatory boundaries. It is separate from the Australian Business Number (ABN), which is a unique 11-digit identifier that all businesses in Australia must have for tax purposes. The ACN and ABN help to differentiate between companies and subsidiaries with similar names and ensure that businesses meet their financial obligations.
| Characteristics | Values |
|---|---|
| Full Form | Australian Company Number |
| Abbreviation | ACN |
| Number of digits | 9 |
| Format | XXX XXX XXX (three blocks of three characters, each block separated by a blank) |
| Purpose | Unique identifier for companies registered under Australia's Corporations Act 2001 (Cth) |
| Issuing Authority | Australian Securities and Investments Commission (ASIC) |
| Display | Must be quoted on all correspondence and invoices issued by the company |
| Use | Used to monitor company activities and check if the company is operating within legal and regulatory boundaries |
| Change | Does not change if the company changes its name or is deregistered |
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What You'll Learn
What is an Australian Company Number (ACN)
An Australian Company Number, usually shortened to ACN, is a unique identifier required by every company registered under Australia's Corporations Act 2001 (Cth). It is a nine-digit number issued by the Australian Securities and Investments Commission (ASIC) to every Australian company. The number is usually printed in three groups of three digits, each group separated by a space, and preceded by the letters "ACN".
The ACN is used to monitor companies and can also be used for identification purposes. It is a single number that can be used to monitor all relevant company activities and check that the organisation is operating within legal and regulatory boundaries. ASIC uses the ACN to regulate companies, and mismanagement by directors carries criminal and civil penalties.
The ACN is a company-specific identifier, and it does not change even if the company changes its name or is deregistered. It is used as the base number for the ABN (Australian Business Number). The last nine digits of a company's ABN usually comprise its ACN, with the ABN having two additional numbers at the beginning.
Companies must display their ACN or ABN on some documents, and the ACN must be quoted on all correspondence and invoices issued by the company. A company may also be required to have a Tax File Number (TFN). If a company has an ABN, it may use this in place of the ACN on documents, preceded by the letters "ABN".
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How is an ACN formatted?
An Australian Company Number (ACN) is a nine-digit number, with the last digit being a check digit calculated using a modified modulus 10 calculation. The Australian Securities and Investments Commission (ASIC) issues the ACN in a format of three blocks of three characters, each block separated by a space. For example, XXX XXX XXX. This format assists with readability, and the inserted spaces do not form part of the ACN.
The ACN is a unique identifier for every company registered in Australia under the Corporations Act 2001 (Cth). It is used to monitor all relevant company activities and check that the organisation operates within legal and regulatory boundaries.
The ACN is usually printed in three groups of three digits, preceded by the letters "ACN" and must be quoted on all correspondence and invoices issued by the company. It should follow the company's name on seals and the first mention of the company's name in documents. It must be legible to the ordinary reader, with an 8-point Times Roman or better typeface recommended.
A company may also be required to have a Tax File Number (TFN) and an Australian Business Number (ABN). The ABN is used to identify and monitor a business for tax purposes, while the ACN is used to identify and monitor a business for company-specific purposes.
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How to get an ACN
An Australian Company Number, commonly abbreviated to ACN, is a unique identifier required by every company registered under Australia's Corporations Act 2001. It is a nine-digit number issued by the Australian Securities & Investments Commission (ASIC) to every Australian company.
To obtain an ACN, you must register your company with ASIC. This involves completing an application form and providing various information about your company, such as its name, address, and directors. You can apply online through the ASIC website or engage a registered agent to submit an application on your company's behalf.
When applying for an ACN, you will need to ensure that your company meets the requirements for registration, including having at least one director who ordinarily resides in Australia and at least one shareholder. You will also need to pay a registration fee, which can vary depending on the type of company and the method of application.
Once your application is approved, ASIC will issue your company an ACN. This number must be quoted on all correspondence and invoices issued by the company and displayed on some documents, usually in the format XXX XXX XXX, with each block of three characters separated by a blank for readability.
It is important to note that your company may also need to obtain other identifiers, such as a Tax File Number (TFN) and an Australian Business Number (ABN). The ABN is particularly important as it facilitates business-to-government and government-to-business processes, and if your company has an ABN, it may be used in place of the ACN on documents.
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ACN vs ABN
To start a business in Australia, you must register your operation with the relevant authorities to ensure you meet tax, legal, and regulatory obligations. An Australian Company Number (ACN) and an Australian Business Number (ABN) are two common identification numbers that you'll need to consider for your enterprise to fulfil these obligations.
An ABN is a unique 11-digit number that all businesses in Australia must obtain, regardless of their size or structure (e.g. sole trader, trust, or company). It is issued by the Australian Taxation Office (ATO) and is used to identify your business for taxation and government dealings. ABNs are used in commercial transactions and dealings with the ATO, and they are necessary for registering for GST, invoicing clients, and operating legally.
On the other hand, an ACN is a unique 9-digit number that is only issued to companies by the Australian Securities and Investments Commission (ASIC). It is used to identify registered companies in Australia and is required for legal compliance. ASIC uses the ACN to monitor companies and ensure they operate within legal and regulatory boundaries. A company must be set up before it can receive an ACN, and this can be done through ASIC or with the help of a lawyer or accountant.
Both ABNs and ACNs are integral to a business, and failing to include them on official documents can result in serious penalties. While a company can have only an ACN, it will also need an ABN if it conducts business. The ACN is used as the base number for the ABN, so they will be identical except for two additional numbers at the beginning of the ABN.
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When to use an ACN or ABN
An Australian Company Number (ACN) is a unique 9-digit identifier required by every company registered under Australia's Corporations Act 2001 (Cth). The ACN is issued by the Australian Securities and Investments Commission (ASIC) when a company is registered. It is used to identify a company and must be quoted on all correspondence and invoices issued by the company.
An Australian Business Number (ABN) is a unique 11-digit identifier required by all businesses, irrespective of their size or structure. The ABN is issued by the Australian Taxation Office (ATO) and is used to identify a business in commercial transactions and dealings with the ATO. Operating a business without an ABN is illegal. The ABN 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 GST.
The main difference between an ACN and an ABN is that an ACN is only required by companies, whereas an ABN is required by all businesses, including sole traders and partnerships. A company will have an ABN in addition to an ACN if it carries on a business. A company's ABN will always consist of its ACN with a two-digit prefix.
Both ABNs and ACNs are integral to a business. If a company trades without the sufficient identifiers, it will be in breach of company and tax laws. Therefore, it is important to know which number your business requires and when and how to use them to be legally compliant.
A company must display its ACN or ABN on certain documents, including the first page of all documents where they are required. If a company uses a common seal, it must include the company's name, the words 'Australian Company Number', and the company's ACN. If the company has an ABN, it may use this in place of the ACN on documents, preceded by the letters 'ABN'.
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Frequently asked questions
An Australian Company Number (ACN) is a unique nine-digit identifier required by every company registered under Australia's Corporations Act 2001. It is issued by the Australian Securities and Investments Commission (ASIC) and used to monitor companies and ensure they are operating within legal and regulatory boundaries.
A company receives an ACN when it registers with ASIC. The number is generated using an algorithm with the last digit being a check digit allowing the number to be verified.
The ACN must be quoted on all correspondence and invoices issued by the company. It is usually printed in three groups of three digits, preceded by the letters "ACN" or "Australian Company Number". If a company has an Australian Business Number (ABN), it may use this in place of the ACN on documents, preceded by the letters "ABN".
