Monday, December 11th 2017

Question

Why get an abn?

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10th Nov 2009 by Tobias John Sterling

An entity that operates a business in Australia should get an ABN (an Australian Business Number) for four reasons. First, they are free and easy to apply for on the Australian Business Register website (go to http://www.abr.gov.au/). Second, they are necessary when applying to register for the Goods and Services Tax (GST), which is mandatory for any business with an annual turnover of more than AU$75,000. Third, not having an ABN means that other business must deduct 46.5% of any payment to you and remit it to the Australian Tax Office. Fourth, they make it easier for businesses to deal with all levels of government using just one identifier.

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1st Nov 2009 In Business 1 Answers | 884 Views
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