$77 incl GST
Whether you run your business as a sole trader, partnership, or through a company or trust, we can get you up and running fast with an ABN. If you also need GST registration and PAYG withholding for your business, we can apply for these on your behalf too. And if you’re running your business through a partnership, company or trust, you’ll need a new TFN for your business (sole traders use their own personal TFN).
Australian Business Number (ABN)
If you plan to trade, you will need an ABN.
The ABN is a unique 11 digit number which identifies your business to other businesses and to government departments.You need an ABN to trade within the GST framework, to apply for business names and domain names, and to transact with government departments. If you don’t quote an ABN on your invoices, other businesses are generally required to withhold 46.5% of their payments to you.
To avoid delays, make sure to include personal TFN information for all people who will be Associate Individuals in the ABN application (if they are Australian residents). For non-resident Associate Individuals (ie. non-resident directors of a company), the ATO has proof of identity requirements and will make contact with you after we have submitted the application to obtain certified copies of identity documents.
Tax File Number (TFN)
The TFN is a unique 9 digit number issued by the ATO (Australian Taxation Office) to individuals, partnerships, companies and trusts. The TFN helps the tax office to administer its systems. When lodging an annual tax return for a partnership, company or trust, you need to quote the entity’s TFN. If you are a sole trader, your business income will form part of your personal income and you use your own personal TFN.
If your business’ expected annual turnover is $75,000 or more, your business needs to be GST-registered.
If your business employs people, you will need to register for PAYG withholding so that you can deduct tax from their wages and remit it to the tax office.
How long does it take?
Most ABNs are issued as soon as the application is lodged meaning that your business can be billing customers sooner rather than later! Occasionally if your details can’t be verified by the tax office, then the application takes longer, but the maximum it should take is 28 days.
PAYG withholding, GST registration & TFNs can take up to 28 days and are processed by the tax office.
Importantly, Startup World will review all your applications prior to submitting them, ensuring that any issues with your applications are ironed out early on, saving you time and money. To help us ensure we have all of the necessary information, you might want to email us your current company statement, partnership agreement, schedule page of your Trust Deed or whatever else might be relevant to the entity you’re lodging the ABN application for.
Not sure what business structure is right for you? Check out our Structures pages for more information!