Australian Business Number (ABN)
The Australian Business Number ( ABN)
The Australian Business Number (ABN) is a unique 11 digit identifying number that businesses use when dealing with other businesses. An ABN is required to be displayed on your invoices, or other documents relating to sales. If you don’t, other businesses may withhold 46.5% from any payment to you for tax purposes.
You also need an ABN in certain dealings with the Australian Taxation Office (ATO) and other areas of government.
Registering for an ABN is not compulsory, but you will need one to register for the GST. Your ABN allows you to:
- facilitate a single Business Activity Statement
- confirm your business identity to others when ordering and invoicing
- avoid PAYG tax on payments you receive
- claim GST credits
- claim energy grants credits
- purchase an Australian domain name
Do I need an Australian Business Number (ABN)?
Not everyone is entitled to an Australian business number (ABN).
Companies registered under the Corporations Law and business entities carrying on an enterprise in Australia are entitled to an ABN.
Employees and hobbyists are not entitled to an ABN as they are not carrying on an enterprise.
Self-funded retirees do not need an ABN. They continue to use their tax file number when reporting their annual income to the Tax Office.
Need assistance applying for an ABN?
You can apply for an ABN online at the Australian Business Register. If you are starting a new business or need help with applying for an ABN, contact us today and we will be able to help you 1300 780 191
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