The Australian Business Number (ABN) makes business activities easier. It’s your key to a quicker and smarter way of dealing with other businesses and government. The Australian Business Register gives you instant electronic access to ABN information. Available 24 hours, seven days a week – it’s easier, smarter and saves you time.
The Australian Business Number (ABN) is a single identifier for all business dealings with the tax office and for dealings with other government departments and agencies, which allows:
- Helps you claim goods and services tax (GST) credits
- Lets you claim fuel tax credits you qualify for
- If you do not use an ABN with businesses you deal with, this may result in amounts being withheld from payments to you under pay as you go (PAYG) withholding
- Allows businesses to easily confirm your details for ordering and invoicing.
If your business has a GST turnover of $75,000 or more (or $150,000 or more for not-for-profit entities) you must register for GST and you’ll need an ABN to do this. If your business has a lower GST turnover, it’s up to you whether you register. Contact Maitland Accountants today to set up your ABN.
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