What is ABN? ABN Review

Basic Introduction

An Australian Business Number (ABN) is a unique 11-digit number used to identify a business. You use your ABN to communicate with other businesses and government departments and agencies such as the Australian Taxation Office (ATO). Even if your business name is the same as another business, no other business will have the same ABN as yours.

An ABN number does not replace your Tax File Number (TFN). Your business usually needs to have its own TFN, unless you are self-employed - in which case you can use your own personal TFN.

Registration Information

The company's Australian Company Number (ACN) ;

The personal tax file numbers of the company's 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.

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

Used for:

Correspondence with the tax authorities

Dealing with government agencies

Business dealings with other companies

Confirm details of orders and invoices with other businesses

Claiming Goods and Services Tax (GST) relief

Claim any eligible fuel tax deductions

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.

References

• 1. The role of Australian (ABN) registration: taxback [reference date 2018-04-19T16:00:00.000Z]
• 2. The role of the Australian company tax number ABN: Sohu [reference date 2018-03-18T16:00:00.000Z]