Ever moved house and forgotten to update your details with the ATO or ASIC? Or maybe you assumed that updating one automatically updates the other? You’re not alone. However, keeping your addresses up to date with both the Australian Taxation Office (ATO) and the Australian Securities and Investments Commission (ASIC) is more important than you might think.
Why Does It Matter?
ATO: Don’t Miss Important Tax Correspondence
The ATO needs your correct address to send important tax information, including:
Your tax return notices
BAS and IAS reminders
Payment plans and debt notices
Any ATO compliance letters (which you really don’t want to miss)
If your details aren’t up to date, you could miss crucial deadlines, leading to late fees, penalties, or even audits. Plus, if you’re due a tax refund, wouldn’t you want to know about it sooner rather than later? 😅
ASIC: Avoid Fines and Keep Your Business Compliant 💼
ASIC is responsible for business registrations, and if you run a company, your registered office and principal place of business must always be accurate. This ensures:
You receive renewal notices for your business name or company registration
You’re aware of any compliance obligations
Legal documents (including court notices) reach you in time
If ASIC can’t reach you, your business may be at risk of deregistration - or you could rack up unnecessary fines (and may not without knowing about them if you don’t regularly log in to your ASIC portal 😬).
ATO and ASIC Don’t Talk to Each Other (Sadly) 🤷♀️
A common misconception is that updating your address with the ATO will automatically update it with ASIC (or vice versa). Unfortunately, they operate separately, so you need to notify both individually. Here’s how:
ATO: Update via your myGov account (linked to the ATO), through your tax agent, or by calling them directly.
ASIC: Log into the ASIC Connect portal and update your business details under ‘Change of Company Details’ or ‘Update Business Name Details’ (depending on your structure).
When Should You Update?
Life moves fast, and so should your address updates. Make sure to notify the ATO and ASIC when:
✅ You move house (even if it’s temporary)
✅ You change your business’s registered office or principal place of business
✅ Your mailing address changes
✅ Your accountant or registered agent changes
The Bottom Line
Staying on top of address updates might seem like a small admin task, but it can save you from missed deadlines, unnecessary fines, and compliance headaches. The ATO needs your correct address for tax return notices, BAS reminders, and other essential updates. Meanwhile, ASIC ensures your business remains compliant and that you receive renewal notices on time.
A few minutes now can save a lot of stress later. Stay ahead, avoid fines, and keep things running smoothly.