What is the Modernising Business Registers program?
The Modernising Business Registers (MBR) program will progressively establish a new business registry service between 2021 and 2024. This will unify the Australian Business Register (managed by the ATO) and 31 registers currently managed by Australian Securities and Investments Commission (ASIC), in one place.
The new registry service that will modernise and streamline the way businesses register, view and maintain business registration details with government on a contemporary, digital registry system.
As part of the MBR program, a new director ID – a unique identifier that a director will keep forever, will also be introduced.
Who is involved?
Treasury, the ATO, ASIC, Department of Industry, Innovation and Science and Digital Transformation Agency are the partner agencies for the MBR program. The ATO is the lead agency.
Why is MBR needed?
The current registers are built on a number of different legacy systems that need to be updated.
The MBR program will create a unified business register that will allow businesses to quickly view, update and maintain their business registry data in one location which will:
- make it easier for businesses to meet their registration obligations – leaving them with more time to focus on their customers and business operations
- make business information more trusted and valuable
- improve the efficiency of registry service transactions.
How we are supporting MBR
The MBR program is engaging extensively with a range of stakeholders to support the design and implementation of the MBR platform and its external service interactions.
- Director ID
- Modernising Business Registers Business Advisory Group
- Modernising Business Registers Design Working Group
For more information or if you have questions, email DPO@ato.gov.au.