If you're planning to do business in Australia, you'll need an Australian Business Number (ABN)
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Failure to quote an ABN can result in as much as 46% being withheld from payments from other companies so it's very risky not to have one.
Furthermore, if a company does not provide an ABN when doing business with another company, this may result in payment for goods being withheld. Please note there is a $100 charge on ABN number applications.
An ABN does not replace a TFN and will not cover all your dealings with the ATO. For example, you will still need to quote your TFN when lodging your income tax returns. The combined fee for a paper file TFN and ABN is $130. Taxback.com can organise both for you.
To apply for an ABN as an individual/sole trader you must already have a Tax File Number (TFN). If you wish to apply for an ABN as another entity type (e.g. partnership, company) you can apply for a TFN at the same time as you apply for an ABN. We can look after both your ABN and TFN.
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