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Business Glossary

Glossary of Acronyms for Doing Business in Australia

Our Australian Business Glossary helps you navigate the complexity of doing business in Australia.  Beachhead simplifies the complexity so that your market entry is streamlined.

ABN

Australian Business Number (related, but not an ACN, i.e. not necessary to have a Pty Ltd)

The Australian Business Number is a unique 11-digit number, issued by the Australian Business Register, that identifies your business or company to the government and community. 

ACN

Australian Company Number

A number issued to every company in Australia when registered, issued by ASIC.  
ACCC Australian Competition and Consumer Commission  Australian statutory authority responsible for ensuring compliance with the Competition and Consumer Act 2010. 
AFSL Australian Financial Services Licence  The Australian financial services (AFS) licence required to conduct a financial services business. ASIC assesses applications for AFS licences as part of this role as regulator of the financial services industry. 
ARBN Australian Registered Body Number  An Australian Registered Body Number is a unique, nine-digit number issued by ASIC when a body is registered with them other than as an incorporated Australian company. For example, foreign companies wishing to register with the ASIC as a branch office will receive an ARBN instead of an ACN. 
ACL Australian Consumer Law  The principal consumer protection law in Australia (Competition and Consumer Act 2010). Consumers have the same protections and expectations about business conduct and businesses have the same obligations and responsibilities wherever they operate in Australia. 
ATO Australian Tax Office  Australian Government agency responsible for revenue collection and management of tax, excise and superannuation systems. 
B2B Business-to-Business  B2B (business-to-business) is the exchange of products, services or information between businesses, rather than between businesses and consumers. 
BAS Business Activity Statement (GST + PAYG)  The Business Activity Statement is a “form” submitted to the ATO by registered business entities to report their tax obligations, including goods and services tax (GST), pay as you go withholding (PAYG), pay as you go instalments (PAYGI), and other taxes, except FBT. 
CBD Central Business District  The commercial and business centre of a city or large town. 
CGT Capital Gains Tax  Income tax that is paid on profits from disposing of assets. 
CoLo Co-location hosting services Co-location hosting services offer a secure environment for hardware and access to network connectivity that enables reaching customers worldwide. 
CTR Company Tax Return  In a CTR, the company reports its taxable income, tax offsets and credits, PAYG instalments and the amount of tax it is liable to pay on that income or the amount that is refundable. 
DIN Director Identification Number  A unique identifier a director applies for once and keeps forever – which will help prevent the use of false or fraudulent director identities. 
EMDG Export Market Development Grant Grant program for global marketing and promotional activities.
FBT Fringe Benefits Tax A tax that employers pay on benefits paid to an employee (or their associate, such as a family member) in addition to their salary or wages. FBT is calculated on the taxable value of the benefits you provide. 
FTE Full Time Equivalents  Measures the total amount of full-time employees working at any one organisation. It is a way of adding up the hours of full-time, part-time and various other types of employees into measurable 'full-time' units. 
GST Goods & Services Tax  A broad-based tax of (currently) 10% on most goods, services and other items sold in, into or consumed in Australia. 
ISP Internet Service Provider  An organization that provides services for accessing, using, managing, or participating in the Internet. 
KYC Know Your Customer  Process of identifying and verifying client’s identity when opening a bank account or other financial or professional services.  
OSB Online Services for Business  (previously the ATO portal) OSB is a platform to access the ATO for businesses. 
PAYGI Pay As You Go (Companies) Instalments  PAYGI is the regular prepayments of the expected tax on your business and investment income. 
Pty Proprietary (as in Pty Ltd; shorthand for local Australian-incorporated entity) Proprietary means that as a business structure, a limited number of shareholders own the shares in the company and the company cannot offer its shares to the public. 
RA Registered Agent Acts as a company’s link with ASIC to represent and  make lodgements on behalf of the company. 
R&DTI Research and Development Tax Incentive  Tax rebate or offset for companies conducting eligible R&D activities in Australia. 
RTA Registered Tax Agent Registered Tax Agent is an individual or an accountant authorised by the ATO and TPB to complete and lodge Company Tax Returns (CTRs). 
SAP Substituted Accounting Period  A Substituted Account Period is a financial year that is not the standard tax year of 1 July to 30 June. Entities can apply to the ATO for a SAP.  
TFN Tax File Number  A tax file number is a unique private identifier issued by the Australian Taxation Office to each taxpaying entity—an individual, company, superannuation fund, partnership, or trust. 
TPB Tax Practitioners Board A quasi-autonomous statutory organisation which registers and allows tax practitioners (accountants or Registered Tax Agents) to practice. 
SG Superannuation Guarantee Minimum employer superannuation (pension) contributions for eligible employees. 
WCI Workers’ Compensation Insurance A form of insurance payment to employees if they are injured at work or become sick due to their work. Regulated as mandatory at a federal level, it is administered at a state level. 

 

Government Regulators and Agencies

ACCC Australian Competition and Consumer Commission Australian statutory authority who enforces the Competition and Consumer Act 2010 and other legislation promoting competition and fair trading
ASIC Australian Securities & Investments Commission Australia's integrated corporate, markets, financial services and consumer credit regulator.
ATO Australian Tax Office Australian Government revenue collection and management of tax, excise and superannuation systems. 
FIRB Foreign Investment Review Board  Foreign investment policy and examines foreign investment proposals. 
AUSTRAC Australian Transaction Reports and Analysis Centre  Australian government financial intelligence agency responsible for monitoring financial transactions to identify money laundering, organised crime, tax evasion, welfare fraud and terrorism financing.
IPA IP Australia Australian Government agency that administers intellectual property (IP) rights and legislation relating to patents, trademarks, designs and plant breeder's rights. 
Home Affairs Department of Home Affairs - Visas  Australia’s federal law enforcement, national and transport security, criminal justice, emergency management, multicultural affairs, settlement services and immigration and border-related functions. Administers immigration and visa programs. 
ASX Australian Securities Exchange  Financial market exchanges, offering services, including listings, trading, clearing and settlement, across a range of asset classes. 
AuDA Australian Domain Administration  auDA is the administrator of Australia's .au top level domain
FWC Fair Work Commission  Australia’s workplace relations tribunal and registered organisations regulator. 

 

Government Trade and Investment Agencies

Government Trade and Investment agencies support foreign direct investment into their respective jurisdictions by providing facilitation services and, in some cases, incentives, to certain priority international businesses establishing productive businesses in their jurisdictions. 

 

Government Grants, Tenders and Procurement

AusTender  Government Tenders  Centralised publication of Australian Government business opportunities, procurement, multi-use lists and awarded contract information 
ICN  Industry Capability Network  ICN connects suppliers to projects, assists to find new contracts and supply chains of major renewable energy projects in Australia.
  Government Grant Finder  Grants and assistance programs across Australia. 
  NSW Tenders  NSW State Government website for information about business opportunities. 
  QLD Tenders  Queensland Government tender opportunities. 
  SA Tenders  Publicly available bidding opportunities within the South Australian Government. 
  VIC Tenders  Victorian government tendering and procurement website. 
  WA Tenders  Western Australia Government public sector tenders & contract information. 

 

General Business Chambers and Associations

Business associations and chambers representing Australian businesses.

AIG  Australian Industry Group  Australia’s peak industry association. 
ACCI  Australian Chamber of Commerce and Industry ACCI is the nation's peak council of business organisations and the voice of Australian enterprise and industry.
State and Territory Business Chambers and Associations.
VCCI  Victorian Chamber of Commerce and Industry   
Business NSW  Business NSW   
TCCI  Tasmanian Chamber of Commerce and Industry   
CCIWA  Chamber of Commerce and Industry of Western Australia   
BSQ  Business Chamber Queensland   
CBC  Canberra Business Chamber   
Business SA  Business SA   

 

Bilateral Business Chambers

A selection of bilateral chambers in Australia supporting trade, investment, business and cultural linkages.

America  AMCHAM American Chamber of Commerce in Australia  Amcham is Australia's largest international Chamber of Commerce and provides assistance to US and Australian companies and promotes promote trade & Investment. 
Arab  AACC Australia Arab Chamber of Commerce and Industry The Australia Arab Chamber of Commerce and Industry (AACCI) is the peak national association for two-way trade and investment between Australia and the Arab League countries. 
Brazil  ABCC Australia Brazil Chamber of Commerce The ABCC provides assistance to companies and individuals with the objective to promote trade and investment between the countries.
Britain  ABCC Australian British Chamber of Commerce Trade organisation promoting trade and commerce between Australia and the UK. 
Canada  CACC Canadian Australian Chamber of Commerce  The CACC aims to build business connections and assist trade and bringing Canada and Australia closer together. 
Chile AChCC Australia Chile Chamber of Commerce The AChCC promotes closer trade links between Australia and Chile. 
China  ACBC Australia China Business Council  ACBC actively promotes two-way trade and investment, and economic cooperation and understanding, between the business communities of Australia and China. 
France FACCI French Australian Chamber of Commerce  FACCI's mission is to promote our members and support French companies succeed in Australia through information, networking and business support services. 
Europe EABC European Australian Business Council Ltd  Peak body of organisations, including bilateral chambers of commerce, foreign trade offices and consulates, aiming to foster trade and investment between Europe and Australia. 
Germany  AHK German-Australian Chamber of Industry and Commerce  As official representative of Germany's economy in Australia, AHK promotes bilateral trade and assists companies with a broad portfolio of market entry services. 
Hong Kong HKABA Hong Kong Australia Business Association  HKABA promotes a positive image for Hong Kong and reinforces economic ties between Hong Kong SAR/China and Australia. 
India AIBC Australia India Business Council The Australia India Business Council (AIBC) was founded to foster bi-lateral relations between India and Australia.
Indonesia AIBC Australia Indonesia Business Council  The AIBC is the peak, non-profit business association involved with the promotion and facilitation of trade and investment between Australia and Indonesia.
Japan JCCI Japan Chamber of Commerce and Industry  JCCI promotes mutual friendship, promotion and economic and cultural relations. 
Korea AKBC Australia Korean Business Council  AKBC exists on behalf of its members and seeks to develop business relationships between Australia and Korea 
Ireland IACC Irish Australian Chamber of Commerce  The Irish Australian Chamber of Commerce is the kindred network, committed to adding value and bringing opportunities to its members.
Italy ICCIA Italian Chamber of Commerce and Industry in Australia Inc  The Italian Chamber of Commerce is committed to promoting and extending business relations between Australia and Italy. 
Latin America ALABC Australia-Latin America Business Council  ALABC promotes, encourages and facilitates commerce, trade and investment between Australia and the countries of Latin America. 
Malaysia AMBC Australia Malaysia Business Council  The AMBC's goal is fostering, supporting and promoting business, investment and cultural opportunities between Australia and Malaysia. 
Netherlands NCCA Netherlands Chamber of Commerce Australia The NCCA is the go-to organisation that connects the Australian and Dutch business communities. 
Norway NACC Norwegian Australian Chamber of Commerce  The Norwegian Australian Chamber of Commerce (NACC) is a premier platform for business networking in and between Australia and Norway. 
Portugal PACC Portuguese Australian Chamber of Commerce  Portrade connects people who are committed to promoting, encouraging and facilitating trade, commerce and investment between Australia and Portugal. 
Singapore AustCham  Australian Chamber of Commerce, Singapore  AustCham Singapore is a platform for connection, insights and advocacy in the Australia-Singapore business community. We are the trusted and respected voice of Australian business and support; our members achieve business success in Singapore. 
Spain La Camara  The Spanish-Australian Chamber of Commerce - La Camara  La Camara aims to be the preeminent point of reference for Spanish companies interested in investing in Australia, as well as for Australian companies willing to develop and expand their business in Spain. 
Sweden SACC Swedish Australian Chamber of Commerce  SACC seeks to create a sustainable network among the Swedish and Australian companies in Australia. 
Switzerland SwissCham  Swiss Chamber of Commerce  As the hub of Swiss business in Australia, SwissCham enables businesses to connect and prosper in Australia and Switzerland, focusing on doing business in Australia and the promotion of bilateral trade.