Who Is Eligible For An ABN?

Who Is Eligible For An ABNAbn number is eligible for those sole traders, professional artists, like actor, writer, director, musician etc, business professionals, corporation sole bodies, a partner in joint venture, a trust, corporate body etc, anyone who wish to start a business either small or big, and wish to trade their skills and products, within Australia are those who are eligible for Australian business number. An Australian business number is issued by the Australian business register, based on the details you provide about the Australian company number, and it is mandatory to own a company number, where the abn is extra two digits that gets appended to the Australian company number which is of 9 digits. It is required to own an abn number to all those new entities that are registered for business transaction, need to contact the Australian taxation office regularly. The abn number is required when applying for the goods and service tax (GST) of Australia. A GST form is not required when your business turnover is less than $75,000 per year. The other benefits of abn Australia are you can get the taxation credits, GST credits, fuel credits, like the amount spend on fuel for transportation can be used for filing taxation and refund.

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The process of registration for an abn

Abn numbers can be obtained by registering the 4 page form on the government site. There are various option available according to your requirement like when you are applying through the business register, the business name holder already has an abn number, he can just go to the first option and update the details of an abn number, or contact the ABR to open a new register to update details. If the business entity has already applied for a Australian abn and has a registration application reference number, it can be entered, if the abn number is successful and determined, they will be able to register the name, the refusal will take place if the details provided are false or has any problem, this can be done with the second option. The third option makes it possible for those in joint ventures to apply for abn number if any of their partner or partner has already got their abn numbers, thus the venture itself will have a abn number which makes it easy for the individual to obtain his Australian abn, provided he submits the others details correctly.

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The last option of abn registration

The last option is for those making business registration in the Christmas Island of cocoa Island, which doesn’t require a abn for business registration. The other options available for registering for abn is by paper registration if electronic registration is not possible, this paper registration can be done by making a call to the Australian taxation office (ato). Make sure you get your business registered before you start it, to avoid any hassle, unexpected closure or other taxation problems. If you are sure you don’t want to waste much of time and wouldn’t mind paying some extra money, well you can done it more easily and earlier, by letting your work done by a third party,

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