Business institutions in Australia whether governmental or nongovernmental, are obliged to obtain the Australian Business Number (ABN) when the annual turnover of the particular institution hits a particular set threshold. Registration for ABN is available for companies, trusts, partnerships and other organizations. The process of making a valid application involves completing an ABN registration form online or by making the application through a reliable tax agent. The online registration is available at the Australian Business Register’s official website. Besides ABN registration for Companies, trusts, partnerships and other organizations, other options available for registration include; The Goods and Services Tax (GST), PAYG withholding Tax also called the Pay-As-You-Go withholding, Fuel Tax Credits, Wine Equalization (WET) and Luxury Car Tax. A File Tax Number (FTN) is also available for these entities as stipulated on the document NAT 2939.
However, this application is not legit for sole traders who need to get an ABN Number in Australia. The individual types of entities require completion of a different set of document (NAT 2938). Institutions representing a superannuation entity and when making an additional registration such as GST besides the ABN registration exempts the applicant from making this application. Government organizations and other agencies are also exempted from this registration form but should however; apply ABN from another set of documents specifically targeted for the governmental organizations.
The entities details should also be regularly updated incase of any changes in terms of contact details and on instances of relocation of the headquarters or institution premises. It is recommended that the changes be updated within 28 days. This can be made possible by contacting the relevant office and must only be done by contacts registered as legit entities’ contact by the Australian Taxation Office (ATO); otherwise the changes may not be effected.
All governmental organizations requiring registration information and services that include application forms, cancellation of existing registrations and updating of the registration details as recorded in the Australian Business Register must make contact with the Australian Taxation Office through official e-mail contact or by phone. It is worth noting that applying ABN in Australia has major advantages especially in streamlining communication with relevant government agencies and the general public during the process of making business transactions. In addition, if any details regarding a particular entity may result in safety issues, then making an online application is not the best way to go. Contac the ATO or the Privacy Commissioner’s website for further information regarding entity detail(s) suppression.
