Every Thing You Should Know about ABN Number in Australia

Australian Business Number (ABN) is an 11-digit unique number. ABN Number in Australia launched on 1 July 2000 by the liberal government of John Howard's. It is an identity of the business to deal with many government departments, agencies and the community of Australia. The ABN number is obtained when starting a business in Australia. However, this number does not replace the tax file number. Why do you need an ABN? Firstly, it is recognized as illegal to trade in australia without an ABN. Therefore, if any business without an ABN enters a transaction, then the payment should be subtracted by 47% and afterwards deposited with the Australian tax office (ATO). Uses of ABN Number Avoid paying taxes as you travel (PAYG) in accepting payments Recognizing the business to others while placing orders Invoicing Claiming GST credits Obtaining an australian domain name Registration of ABN Number in Australia You can apply for...