However, it is unnecessary to add this number to your packaging; receipts; promotions or transport forms. The ACN is majorly necessary to facilitate an efficient filing system. It also aids easy identification process. The number must be seen on the first page of any document and must be written. For documents involving multiple companies, all their numbers must be stated in respect of each.

 Unlike ABN, you can neither cancel nor make changes to your ACN number.  Also, ABN is an 11-digit number, and it also supports small businesses. Nonetheless, the process of applying for ACN is not in any way complex. You are only required to submit a business name that has never been previously registered, and such term must include the company’s legal status. To ascertain the originality of the word, you can search through the register. You must also fully understand the standard duties of your company.

Besides, you obtain the ACN number for a fee. The application is undertaken within minutes, although the response may take up to two to five days depending on the payment mode. It takes two days when you pay through your credit card. There is also a renewal option that must be undertaken by the company annually. More so, one can automatically get the number if one registered through the Australia Securities and Investments Commission (ASIC).