If you want to legally open a business, you will need to obtain a variety of permits and licenses from government agencies and local city offices. If your business involves providing some kind of service, you will also need certification that shows you are fully trained and equipped to provide such service to the general public. The country of Australia is no exception when it comes to these types of requirements.
An Australian Business Number, or ABN, is an 11-digit identification number for your company. It can greatly help your business in various ways, such as making your company or organization easily identifiable by other businesses, it can help you with collecting Goods and Services Tax (GST) and fuel tax credits, make it a lot simpler for you to work with the Australian Taxation Office and other government agencies, as well as help you steer clear of high tax withholding charges when you do business with other companies.
One of the quickest and most convenient ways to obtain an Australian Business Number is to apply for an ABN number online. What you need to do is visit the website of the Australian Business Register. All the information you need about ABN online applications is found in this website. For instance, if you want to see if your business is eligible for an ABN number, you can click on the “Apply for an ABN” link under the “Business, Super funds & Charities” tab.
In the application process, you will need to gather all the information necessary in order to successfully obtain an ABN number. The needed requirements are also listed on the website. All you have to do is carefully follow the steps and submit your application.
If you’re not comfortable with online applications, you can contact a tax agent in Australia and ask him or her for assistance. The agent will walk you through your ABN application, and then submit it electronically. If you prefer, you can order a paper application as well. The application will be mailed to you, and all you have to do is fill it out and send it back to the appropriate office.
Not all types of businesses are required to apply for an Australian Business Number. Although large-scale businesses are obligated to obtain an ABN number, it is actually optional for smaller companies with relatively low annual gross incomes. But if you are required to register for the goods and services tax, then you should consider getting an ABN number.