To take our free Business Health Check click here.
To schedule a free review of your current business structure click the following link: Book a meeting instantly
To view our knowledge base glossary – for the definition of a term click the following link: Glossary of terms
To view our knowledge base click the following link: Knowledge base
For any other questions chat with us now using the live chat icon in the bottom corner of your screen.
There are many good reasons why your business ought to have an ABN discussed in these knowledge base pages including here – click this link.
To go to the official government website to register your ABN – click here: https://www.abr.gov.au/business-super-funds-charities/applying-abn
To take our free Business Health Check click here.
To schedule a free review of your current business structure click the following link: Book a meeting instantly
To view our knowledge base glossary – for the definition of a term click the following link: Glossary of terms
To view our knowledge base click the following link: Knowledge base
For any other questions chat with us now using the live chat icon in the bottom corner of your screen.
We do recommend in most case that your business has an ABN. Watch the below video to consider why.
For more information – chat with us live using our instant chat tools (bottom corners), book an appointment or call now on 1300-327123 (till late).
To take our free Business Health Check click here.
To schedule a free review of your current business structure click the following link: Book a meeting instantly
To view our knowledge base glossary – for the definition of a term click the following link: Glossary of terms
To view our knowledge base click the following link: Knowledge base
For any other questions chat with us now using the live chat icon in the bottom corner of your screen.
Transcript:
Fast facts video
business asset protection
should you have an ABN?
this is a very very basic question?
should your business have an ABN?
but if you’re buying or selling at all once you get to $75,000 turnover you’ve absolutely got to have it
if you’re buying goods – there’s a very good chance and actually if you’re buying services as well there’s very good chance that you’ll be buying goods or services and include a GST component
so you will want to be registered for GST so that you can claim the input cost of those items
For example: if you buy this pen for $100 and you can and you sell it for $200 you claim $10 or actually $9.10 this pen costs $91.90 without GST and $100 with GST you then go and sell it for $200 you sell it for $181.80 plus 10% GST
so you’re collecting GST and your paying GST
by being registered for GST you get the inputs
now the bad news is that you also have to pay the GST but that’s why you want to have an ABN – so that you can claim all the inputs
another very very good reason is as your business grows you’ll want to borrow and without an ABN, without a record of all your dealings with the tax office
without more taxes paid
there’s very good chance that you won’t be able to get funds to accelerate and grow your business without an ABN, without a trading history, without bank statements and all the rest but certainly not without an ABN
so we highly recommend it we can give you links here on this page
you can subscribe to our videos by clicking the subscribe button down in the bottom right hand corner of the YouTube screen and
we hope to see you soon on another video thank you
For more information – chat with us live using our instant chat tools (bottom corners), book an appointment or call now on 1300-327123 (till late).
An ABN is a unique 11 digit number that identifies your business to the government and community. To find out more see our knowledge base article explaining what an ABN is.
If your business is not registered for GST it is either very small (business’ with a turnover of less than $75,000 are not yet required to become registered for GST) or is not meeting its obligations to the ATO.
If you would like to take our free Business Health Check we can assess whether your business IS meeting its basic GST obligations.
Once you have an ABN, it is still possible to cancel its registration, back date the date of its registration or change the registration.
Other GST registration options include GST branch registration for discrete parts of your business – if it is viewed as desirable to report GST via business units?
Our Business Health Check may assist you (and us) to critically consider the optimal GST reporting structure for your business with a free review of your business structure.
Below are our video tutorials on why your business should have an ABN and the importance to completing your BAS returns.
To take our free Business Health Check click here.
To schedule a free review of your current business structure click the following link: Book a meeting instantly
To view our knowledge base on registration requirements for GST click the following link: What is an ABN?
For any other questions chat with us now using the live chat icon in the bottom corner of your screen.
An ABN is a unique 11 digit number that identifies your business to the government and community.
It doesn’t replace your tax file number.
You can use an ABN to:
To take our free Business Health Check click here.
To schedule a free review of your current business structure click the following link: Book a meeting instantly
To view our knowledge base on registration requirements for GST click the following link: What is an ABN?
For any other questions chat with us now using the live chat icon in the bottom corner of your screen.