If you start a business in Australia you need to apply for an ABN – an Australian Business Number.
An Australian Business Number or an ABN is an identification number for businesses in Australia. So you’ll need one no matter what type of business you start and it doesn’t replace your personal tax file number even if you’re a sole trader.
If you’re not sure what type of business is right for you read this post.
Apply for an ABN
You can apply for an ABN through the Australian Business Register. If you apply through the Australian Business Register yourself, either online or using a paper form, there is no charge for obtaining an ABN.
If you engage a tax agent to obtain an ABN on your behalf they may charge you a fee.
What You Need to Apply for an ABN
To apply for an ABN you’ll need to provide some information that verifies your identity. If the information you provide is verified your ABN will be issued immediately.
Because it’s technically a legal process you may need to provide some or all of the following:
- Any ABNs already held or previously held.
- The legal name of your entity.
- Your tax-file number.
- The business location/s.
- Your accountant’s details if you want them to be able to act on your behalf.
- The type of activities your business will be undertaking.
- The date from which your ABN is required.
For more detailed information on whats required to apply for an ABN – click here
Besides an ABN What Else Do You Need?
Depending on the type of business you are starting you may need to apply for the following registrations:
Whilst it may seem like a never ending list of things to ‘apply for’ thankfully the ATO and ABR websites are user friendly and stocked with some great ‘how-to’ guides.