Getting down to business has never been easier thanks to the Australian business number (ABN). It’s your key to a quicker and smarter way of dealing with other businesses and government.
If your business has a GST turnover of $75,000 or more (or $150,000 or more for not-for-profit entities) you must register for GST and you’ll need an ABN to do this. If your business has a lower GST turnover, it’s up to you whether you register.
The first step in commencing your business is to get an ABN. Go to www.abr.gov.au– Apply for an Australian business number (ABN). Sole traders, companies, partnerships, trusts and superannuation funds can apply for an ABN online. Provided your details can be validated, you will receive your ABN in real time. Written confirmation of your ABN registration will follow.
The Australian Business Register gives you instant electronic access to ABN information. Available 24 hours, seven days a week – it’s easier, smarter and saves you time.
To update your ABN details via the Australian Business Register you will need to register for a free digital certificate. To do this, go to Online Services. Alternatively, see your tax agent or phone us on 13 28 66 to update your details.
Remember to update your ABN details within 28 days of any changes.
With a digital certificate you can lodge your activity statements online through the Business portal – you’ll receive instant confirmation that it has been lodged.
You may even qualify for extra time to lodge and pay your activity statement – for more information visit Online Services.
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