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 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.