What is ABN? ABN Review

ABN (Australian Business Number) is an Australian business number, a unique 11-digit number used to identify a business. It is jointly awarded by the Australian company and investment management agency ASIC and the tax office ATO. It consists of a 2-digit number + ACN number and is usually used by an organization to deal with the tax office or another organization (such as a company).

About ABN

It is not mandatory to apply for an ABN number, but if you need to pay GST (Goods and Services Tax), you must have an ABN number. ABN is managed by the Australian Taxation Office (ATO) and the Australian Business Registration Office (ABR). Failure to quote (ABN) will result in up to 46% of the payment received from other companies being withheld, so it is extremely risky not to have an Australian business number.

Registration Information

The company's Australian Company Number (ACN);

The personal tax file number of the company director and secretary;

Personal information of the company's registered director and secretary (date of birth, place of birth, current address, contact information including telephone number and email address);

The nature and direction of the company's proposed business in Australia;

The company's registered address in Australia, contact number, fax number and email address;

Choose how to file your GST return: monthly, quarterly or annually.

cost

The application fee for an Australian Business Number (ABN) is $100.

How to Apply

Through the Australian Business Registration Portal;

Use the services of a registered tax agent;

Through a paper application to the ATO.

To apply for an ABN, you will need a Tax File Number (TFN) as a prerequisite.

effect

correspondence with the tax authorities;

Dealing with government agencies;

Business dealings with other enterprises;

confirming details of orders and invoices with other businesses;

Claiming Goods and Services Tax (GST) relief;

Claim any eligible fuel tax deductions.

Which types of jobs require individuals to apply for an ABN?

Common jobs include: Housekeeper, meat factory worker, massage master, taxi driver, farm, etc. No matter which one, as long as the other party uses ABN, you have to agree to work with ABN instead of TFN (Tax File Number), so you have to apply for ABN.

Steps to apply for ABN:

Step 1. Open the website www.abr.gov.au and click "Apply for an ABN" in the lower left corner.

Step 2. Read the instructions if you are interested, otherwise continue with "Apply for an ABN" below. Because there are many industries that apply for ABN, we will take the most common Housekeeper as an example, after all, it accounts for the largest proportion. The ABN application methods for other types of jobs are similar, with only a few different answers to questions.

Step 3. Before entering the application form, please read the basic ABN application requirements and obligations and check the boxes. Then click "Next".

Step 4. Then select an individual company, which is "Individual (Sole trader)", and then click "NEXT". Related questions will pop up below.

Step 5. Review whether your conditions meet the requirements for applying for ABN. Remember to answer "YES" to pass the assessment! After confirmation, click "NEXT".

Step 6. Then you will be informed that after the assessment, you are eligible to apply for ABN. Then click "NEXT".

Step 7. Ask a few basic questions, such as whether your ex has applied for an ABN or personal tax number. After answering, click Next.

Step 8. This is the most important page of all. You must choose "Yes". You will be recognized as an Australian tax resident. In short, if you choose No, you will have to pay a lot more taxes. Don't joke with your hard-earned money.

Step 9. Fill in your basic information. After filling in, click "NEXT".

Step 10. The first date is the default date, which is today. Of course, if you have already started working, you can choose a date earlier; similarly, if you will start working next month, you can choose a date next month. At the bottom, this is an application from the perspective of [Housekeeper]. If it is another job, just find the one that is closest to your job nature on the menu and write down your main job content in the column at the bottom.

Step 11. Fill in your contact address, phone number, and email address.

Step 12. Fill in your mailing address.

Step 13. Contact person, usually yourself. Fill in your personal contact number and email address.

Step 14. Reason for applying for ABN. Please select "Contractor/Sub-Contractor".

After pressing Next, the following question will appear on the same page: Is this the Individual/Sole Trader's first time self employed as a contractor/sub-contractor in Australia?

They all chose "Yes".

Step 15. Finally, sign and seal, fill in your full name, job title, and application date. Then submit the application.

Step 16. Then your ABN number will come out.

Step 17. Then you can check your registration information.

Step 18. You can also check the summary of the details. (Your ABN number will be recorded on it).

Related Introduction

Having an ACN does not necessarily mean having an ABN. For example, some dormant companies do not have an ABN. If you have an ABN number, you must also have an ACN number.

ACN and ABN are just the most common registrations. Companies that only have ACN or ABN are not qualified to engage in financial derivatives.

An Australian Business Number (ABN) is not a replacement for a Tax File Number (TFN) and does not cover all ATO matters. For example, you will still need to provide your TFN when filing your income tax return. The paper filing fee for both the TFN and ABN is $130. Taxback.com can handle both for you.