Partnership ABNs cancelled

Partnership ABNs cancelled

Partnership ABNs cancelled

The Registrar of the Australian Business Register (ABR) will soon start cancelling the ABNs of partnerships where there is evidence they are no longer carrying on an enterprise.

If a client has not lodged an income tax return or activity statement for the last two years, their ABN may be cancelled.

If a client’s ABN is cancelled, they will receive a letter (unless their contact details are not up-to-date on their ABN record) with the reason and a phone number to ring to get the ABN reinstated immediately if they don’t agree with the decision.

Partnerships ANBs will not be cancelled if they are:

  • Registered with Australian Charities and Not-for-profits Commission (ACNC);
  • A not-for-profit; or
  • A non-reporting member of a GST or income tax group.

The ABN will also not be cancelled in cases where a known associate of the partnership has lodged an income tax return or business activity statement and declared business income or expenses.

Ref: ATO website, 18 May 2016

 

Bottrell Business Consultants Pty Ltd – Chartered Accountants and Business Advisors.

The Bottrell group incorporates Bottrell Business Consultants, Bottrell Accounting & Taxation, Maitland Accounting & Taxation, East Maitland Accounting Services and Mobile Bookkeeping & Recruitment.

Our group of businesses & links include the following companies (& our websites);-

www.bottrellaccounting.com.au or check us out on Facebook, Twitter, Instagram or LinkedIn

Offices – East Maitland | Newcastle | Sydney | Melbourne | Brisbane | Gold Coast

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