Damon Mcknight
If you're looking to start a business in Australia, you'll need an Australian Business Number (ABN). This 11-digit number is used to identify your business to the government, other businesses, and the public. It's free to register for an ABN through the Australian Government's Business Registration Service, but not everyone is entitled to one. To be eligible, you need to be running a business or other enterprise. You can apply for an ABN online, but make sure you have all the necessary information about your business before you start the application process. You can save your application and come back to it later if needed, but this may delay the issuing of your ABN.
| Characteristics | Values |
|---|---|
| Cost | Free |
| Who can apply | Those running a business or other enterprise |
| Where to apply | Australian Government's Business Registration Service |
| Requirements | TFN (if setting up as an individual), ACN (if a company), Director ID (if becoming a company director) |
| Time taken | Application reviewed within 20 business days |
| Additional information | ABN is an 11-digit number that identifies your business to the government, other businesses and the public |
| Other | You can apply for a business name and register for secure online authentication at the same time |
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What You'll Learn
Eligibility requirements for an ABN
It's important to remember that not everyone is entitled to an ABN. Sole traders, companies, deceased estates, partnerships, superannuation entities, and trusts are all eligible for ABNs, subject to the right criteria.
To be eligible for an ABN, you must be running a business or other enterprise. For example, renting out a residential property for profit does not normally require Goods and Services Tax (GST) and therefore an ABN may not be required. However, renting out an investment property may constitute an enterprise, and an ABN may be required if there are GST or pay-as-you-go withholding obligations.
If your business or organisation is located outside Australia, you may still be entitled to an ABN if your enterprise involves making supplies connected with Australia's indirect tax zone, which includes Australia but not its external territories or certain offshore areas. Non-residents must also be carrying on or starting an enterprise within Australia to be eligible.
Before applying for an ABN, you will need to have a tax file number (TFN) and ensure that your superannuation entity is set up correctly. You will be asked questions during the application process to determine whether you are carrying on an enterprise, and you may be subject to an ABN entitlement review at any time.
It is your responsibility to maintain your ABN and update it within 28 days of any changes to your business.
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How to fill out the application form
To fill out the ABN application form, you must first ensure that you are eligible for an ABN. Not everyone is entitled to an ABN, and to be eligible, you need to be running a business or other enterprise.
Once you have confirmed your eligibility, you can start filling out the form. You will need to provide your tax file number (TFN) and the TFNs of any associates, such as partners, directors, or trustees. If you use a tax or BAS agent, you will need to provide their registered agent number. Similarly, if you are using the services of a professional adviser, you can provide their licence number, such as an Australian Financial Services licence (AFS licence).
If your business is a company or a registrable organisation, you will also need to provide your Australian company number (ACN) or Australian registered body number (ARBN). You can register for an ACN or ARBN through the Australian Securities and Investments Commission (ASIC). Additionally, you must provide the date you require your ABN. This should be the date you expect to start any business activities, such as buying stock, and it cannot be more than six months in the future when you apply.
It is important to provide as much information as possible to ensure your application is processed promptly. However, if you do not have all the information, you can still start your application and save it as you go. The issuing of your ABN may be delayed, but you will have the flexibility to update your details as you receive them.
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What to do if your application is refused
If your ABN application is refused, don't panic. This doesn't mean that you won't be able to get an ABN at all. It may simply be that some important information is missing or incorrect, and the Australian Taxation Office (ATO) is giving you a chance to fix it.
When your application is refused, you will receive a refusal number and a reason for the rejection. You can then correct the issue by logging into your account and editing your application. You won't be charged a second time for this. If you applied through a third-party website, such as EasyCompanies, their team can help you identify the problem and resolve it.
Before re-submitting your application, make sure you have all the necessary information about your business. You can check the Australian Business Register (ABR) website to see if you are entitled to an ABN. Not everyone is entitled to one—you need to be running a business or other enterprise.
If you change your business structure or cease trading, your ABN may be cancelled, and you will need to re-apply. You can also request that certain business details are not disclosed on the ABR due to privacy concerns.
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Registering a business name
To register a business name, you must first obtain an Australian Business Number (ABN). The ABN is a unique 11-digit identifier for your business and is necessary for tax and other business purposes. It is free to apply for an ABN through the Australian Government's Business Registration Service, and you can do so online or on paper. You can also check your eligibility for an ABN on the Australian Business Register (ABR) website. Once you have your ABN, you can proceed to register your business name.
When choosing a business name, there are several factors to consider. It should be memorable and relevant to the nature of your business, products, or services. It is also crucial to ensure that your chosen name is unique and not identical or too similar to any existing registered business names in Australia. You can use the business name check tool and TM Tracker to verify the availability of your desired name and whether it has been trademarked. Additionally, consider the branding potential of the name, including how it fits with your logos and slogans. It is also essential to ensure that the name is culturally and socially appropriate and does not contain any offensive language or restricted words, which are outlined on the Australian Securities and Investments Commission (ASIC) website.
Once you have selected an appropriate and available name, you can proceed with the registration. If you don't already have an ABN, you can apply for one and register your business name simultaneously through the Australian Government Business Registration Service. However, if you already have an ABN, you can apply for a business name directly with ASIC Connect or through a private service provider (PSP), such as an accountant or solicitor, who can assist with the ASIC registration process.
Keep in mind that registering a domain name for your website is also important to secure your online presence. You can use a domain name search tool to check availability and ensure that your business name and domain name are secured concurrently. Additionally, consider trademarking your business name to protect your intellectual property rights and prevent others from using a similar name.
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Cancelling an ABN
To apply for an ABN in Australia for free, you must be running a business or other enterprise. You can register for free through the Australian Government's Business Registration Service.
If you are closing, selling, or stopping operating your business, you must cancel your ABN. You can do this on the Australian Business Register (ABR) website.
To cancel your ABN, you will need to ask your registered tax agent or BAS agent to make the cancellation. Before cancelling, ensure that you have updated your business name details with the Australian Securities and Investments Commission (ASIC) if necessary.
It is your responsibility to keep your ABN details up to date. You can request that certain details are not disclosed due to privacy concerns. You can check if your ABN has been successfully cancelled by using the ABN Lookup tool.
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Frequently asked questions
ABN stands for Australian Business Number. It is a unique 11-digit number that identifies your business to the government, other businesses, and the public.
Not everyone is entitled to an ABN. To be eligible, you need to be running a business or other enterprise.
It is free to register for an ABN through the Australian Government's Business Registration Service.
Before you register for an ABN, make sure you have all the information about your business. If you're setting up a business as an individual (a 'sole trader'), it will speed things up if you provide your tax file number (TFN) when you apply. If you don't have a TFN, you can still apply for an ABN online.
You can apply for an ABN online using the Australian Business Register. You can also apply for a business name and register for secure online authentication and taxes, like GST and PAYG withholding, at the same time.
