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Whats an abn?
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10th Nov 2009 by Tobias John Sterling
An ABN is an Australian Business Number. ABNs are unique 11-digit identifying numbers assigned to businesses operating in Australia by the Australian Taxation Office (ATO). They're voluntary (business must apply in order to get one), but you need one in order to register for the Goods and Services Tax, which is mandatory for businesses with an annual turnover of more than AU$75,000. Having an ABN makes it easier for businesses to deal with various parts of the government, and if you don't have one and give it to other businesses when you supply them with goods or services, then they are required to withhold 46.5% of payments to you and remit the money to the ATO.
An ABN is an Australian Business Number. ABNs are unique 11-digit identifying numbers assigned to businesses operating in Australia by the Australian Taxation Office (ATO). They're voluntary (business must apply in order to get one), but you need one in order to register for the Goods and Services Tax, which is mandatory for businesses with an annual turnover of more than AU$75,000. Having an ABN makes it easier for businesses to deal with various parts of the government, and if you don't have one and give it to other businesses when you supply them with goods or services, then they are required to withhold 46.5% of payments to you and remit the money to the ATO.
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1st Nov 2009 In Business
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