An Australian Business Number (ABN) is your personal business registration, issued by the Australian Taxation Office (ATO).
This number allows you to work independently as a contractor, rather than an employee. Having an ABN means that you own a business in Australia.
As a business owner, you’re responsible for a range of taxation obligations. These are:
- Filing your annual tax return: This is imperative and is part of an annual income declaration issued by the ATO. Please download our Business Checklist for our free in-depth list of expenses for this return.
Please note: you must provide your ABN on all invoices. You may also be required to register for Goods and Services Tax (GST) if your revenue exceeds a certain amount. If you’re a small business and not registered for GST, download our deductions checklist to save you on accounting fees and tax annually.
- Employee insurances which include workers compensation, public liability and income protection.
- A secure postal address with easy access from anywhere.
The expert team at Business Tax & Money House Gosford and Bondi Junction can help you apply for an Australian Business Number (ABN) to meet all of your taxation obligations.
BTMH will support and advise you in your business ventures – helping you set up and grow your business through appropriate taxation requirements.
Do you require an ABN? Contact us today to apply for an ABN.