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- ABN: A Quick Guide to the Australian Business Number

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ABN: A Quick Guide to the Australian Business Number

Date Added: March 21, 2010 04:41:18 PM
Author: Support Team
Category: Business

An ABN or Australian Business Number is a unique 11-digit identification number that is used by the Australian Government. An ABN is useful for the Tax Office, but it is also necessary for certain business activities. Any business that is based in Australia can apply for an ABN, although having one is not compulsory.

The ABN allows a business to be easily identified by government departments that need to deal with it. This will usually be the Tax Office, although other government agencies will also be able to use the ABN to identify businesses. This will make interactions between businesses and the government quicker and easier.

Businesses do not have to get an ABN, although they will find it useful and they will need one if they are going to be dealing with goods and services tax or if they want to prevent other businesses from withholding tax on payments they are receiving.

Businesses will quote their ABN whenever they have dealings with the government, for example in order to register for goods and services tax, claim tax credits or register as a charity. If the ABN is not included on the tax return form then the business will not be able to claim any refunds that it should be eligible for from the goods and services tax.

Businesses will also use their ABNs when dealing with each other, for example, when goods and services are exchanged, or when payments are made from which tax could be withheld. The ABN for any business can be found on the Australian Business Register, which can be searched online. This means that some information about the business will be made public when the owner registers for an ABN.

Businesses can apply for an ABN online by providing some basic details about their company, such as the name and type of business, the address and contact details for the business owner. The ABN will be given immediately.


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