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Where did you buy the domain from. The price should not get more expensive per year as you pay for more years. For a domain name only you should be paying between $10-$20 per year. Privacy and dns are usually also $10-$20 per year extras.

There are not many rules to .com domain names, whether its personal or commercial.

If you were buying from an Australian business, then they would be asking for their own records, not for the registration with the domain authority.