Video transcript - How to cancel your business name

ASIC Connect is the online system used to manage your business name. With ASIC Connect, you can quickly and simply cancel a business name.

To get started, you’ll first need to visit our website at www.asic.gov.au. In the top-right corner of the page you’ll see the ASIC Connect box. Simply select ‘Log in/Sign up’ to go to the ASIC Connect part of the website.

You are now at the ASIC Connect Welcome page. In the blue ASIC Connect box, you can log in with a username and password, sign up, or enter an AUSkey to log in.

If you don’t yet have an account, select Sign up and follow the prompts. You can also refer to our user guide How to sign up for an ASIC Connect account for guidance.

In this tutorial, we’re going to assume that you already have an ASIC Connect account.

Select the Log in button to access the log in page. Then enter your username and password and select Log in.

In order to cancel a business name through ASIC Connect, your business must be linked to your account.

If you haven’t already linked your business to your account, it’s a simple process. Under the Do It Now menu on the right-hand side of the page, select Link a business/Request ASIC key and follow the prompts. You can work through the How to link a business to your ASIC Connect account tutorial for guidance.

To cancel a business name, you first need to select the Lodgements and Notifications tab from the menu bar at the top of the screen.

On the next page, you’ll see a list of the businesses that are linked to your account. Select the business name you’d like to cancel. In the transactions column, you can then use the drop-down to select Cancel/Transfer business name. To continue, select Go.

You’ll then be presented with two options. Select I would like to cancel this business name and then select Next to continue. Read through the information on screen, which explains the cancellation process.

When you’re ready, you’ll need to select Submit to continue.

Before confirmation can be provided, you will need to declare your agreement with the conditions of the transaction.

Read the declaration carefully and, if you agree, tick the boxes to confirm your agreement. Under Authority, select the relevant option.

When you’re done, select the Next button to finalise the transaction.

Once you’ve declared your agreement with the conditions of the transaction, you’ll be taken to a final confirmation screen. Here you can:

• Select Print the transaction to download a printable PDF version of the transaction
• Select one of the links under What else can I do? for more information about other services or
• Select Home to return to the ASIC Connect Home page.

After the transaction is completed, a Notice of intention to cancel a business name will be sent to the email address recorded for the business name. If there is no email address recorded, it will be sent to the address for service of documents.

The cancellation will not come into effect until 28 days after you receive this notice.

You should now know the basic steps involved in cancelling a business name.

Further assistance using ASIC Connect can be accessed be selecting the Help button at the top-right of the screen. You can also take a look at any of the other helpful tutorials available.