Home – New Forums Money matters ABN/ACN Numbers Changing Reply To: ABN/ACN Numbers Changing

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Hi HappyGirl,

As Jacqui has rightly noted, a new ACN / ABN suggests that the entity through which you trade has actually changed (almost certainly this is the case if the ACN has changed). And a change of legal entity is quite fundamental. Quite apart from simply notifying your clients of the new ACN / ABN and bank details, you might turn your mind to whether or not a new entity affects any existing contracts that might be in place with your clients (and indeed suppliers). For example, if you previously traded through Entity A, and it entered into a contract with your client/supplier, Entity B, your new entity, being Entity C, isn’t necessarily a party to that contract. Entity C might therefore be unable to enforce the contract (e.g. for payment or other action) should that become necessary.

You might also consider how your existing business legally moved from the old, to the new, legal entity.

Sorry to be so pedantic (and possibly annoying) about it all but I would suggest that, if you haven’t done so already, you take some advice on this issue. Perhaps from the person who set up the new entity for you?

All the best with it