How to apply for an Australian Business Number (ABN)

An Australian Business Number (ABN) is a single identifying number for a business to use in all of its dealings with government departments and agencies.

An ABN is necessary for certin business dealings:

1) Pay As You Go,
2) Lodging an Instalment Activity Statemen (IAS),
3) Lodging a Business Activity Statement (BAS),
4) determining Goods & Services tax (GST), and;
5) determing Fringe Benefit Tax

An ABN ensures complience for all taxaton record-keeping, the ATO requires that all business-to-business transactiosn be evidenced by an invoice with an ABN quoted, otherwise tax will be withheld at a rate of 46.5%.

A company can apply for a ABN at www.abr.gov.au or via their Tax Agent using the Electronic Lodgement Service (ELS).

How to apply for a Tax File Number (TFN)

The Australian Taxation Office (ATO) uses a system of unique identification numbers to distinguish individual taxpayers. To earn an income in Australia you need a Tax File Number (TFN).

Income includes wages earned from a job, payment from government and money earned from investments including interest on saving accounts.

To apply for a TFN you need to call the Australian Tax Office (ATO) on 13 28 61, or apply online at www.ato.gov.au, or visit the closest ATO office nearest to you.

Your TFN will be mailed to you with in 28 days.