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Tax Facts - Australian Business Number

The Australian business number (ABN) is a single business identifier that allows businesses to deal with the Australian Taxation Office (ATO) and other government departments and agencies with one identifier.

An ABN is not compulsory and not everyone is entitled to an ABN. The following entities will need an ABN to comply with other tax obligations:

Businesses with GST turnover of $75,000 or more must register for GST and need an ABN to do this
Non-profit organisations with GST turnover of $150,000 or more must register for GST and need an ABN to do this
Entities seeking to be endorsed as a deductible gift recipient need an ABN to obtain that status
Charities seeking exemption from income tax need an ABN.

Other eligible entities may choose to register for an ABN:

Companies registered under the Corporations Law
Business entities carrying on an enterprise
Trustees of self-managed superannuation funds should obtain an ABN for the fund.

If an entity makes supplies of goods or services to a business, the supplier entity generally needs to quote an ABN. If the supplier does not quote an ABN, the payer may need to withhold tax from the payment.

Forbes

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PO BOX 837, Forbes NSW 2871

t (02) 6852 1855, f (02) 6852 4198

info@bwraccountants.com.au

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PO BOX 94, Parkes NSW 2870
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