Tax Facts - Australian Business Number
The Australian Business Number (ABN) provides a single identifier when dealing with the Australian Taxation Office or other government departments and agencies. You need an ABN when interacting with the ATO regarding -
- GST (eg to claim GST credits)
- The Diesel and Alternative Fuels Grants Scheme
- Luxury Car Tax
- Wine Equalisation Tax
- Applying for an endorsement as a deductible gift recipient
- Applying for an endorsement as an income tax exempt charity
NOTE - you can also use an ABN to interact with the ATO on the PAYG system and Fringe Benefit Tax.
To qualify for an ABN, you must be a company registered under Corporations Law in Australia or a business carrying on an enterprise in Australia. You will need an ABN if -
- Your GST turnover is $75,000 or more
- You are a non-profit organisation with a GST turnover of $150,000 or more
- You need to be endorsed as a gift deductible recipient
- You need to be endorsed as an income tax exempt charity
More information?
Michael Beddoes, FCA
Director
e mbeddoes@mbapartnership.com.au
t 07 5557 8700