Frequently Asked Questions
ABN REGISTRATION
What is an Australian Business Number (ABN)?
An ABN is an Australian Business Number is a unique number that identifies your business to the government and community.
What information will Do I need to register my ABN?
Full name, Birth details, Tax File Number (TFN) and Business and Residential Addresses.
How long does an ABN registration take?
The ABN typically takes only a few minutes to process if all the correct information is provided to us. If there are any errors or queries, we will contact you to advise you of any further information required so that we can proceed with the application.
Do you need a Tax File Number (TFN) to get an ABN?
We strongly recommend providing your TFN, when applying for ABN. The ABN does not replace your TFN. The ATO may use your TFN to confirm your identity. Without your TFN, the ATO may reject your application or may put it in the queue for manual review which can cause delays in processing your application. If you are unable to provide your TFN when applying for your ABN, you can continue to apply for your ABN. Our team will contact you if you are required to submit your TFN.
Can I have two ABN's?
No, you cannot. As a sole trader, you only have one ABN number. You cannot apply for a new ABN number. The ATO reinstates the old ABN. It is not possible to have more than one ABN number under your name.
I previously had an ABN - Can I reactivate this number or do I need to apply for a new one?
If you had a previous ABN number, the ATO will reactivate your old number. You keep the same ABN number as a sole trader and cannot be issued with a new ABN number. Please click here to reactivate your Australian Business Number (ABN).
As a sole trader, do I need a new ABN number for each Business that I own?
If you are a sole trader, you can only have one ABN number. You can have multiple businesses and business names under the same ABN but not more than one ABN.
How do I reactivate my expired ABN?
Please click here to reactivate your Australian Business Number (ABN).
How long does it take for my ABN number to show as active?
It may take between 3 to 10 hours for your ABN to show as active on the ABN lookup while the ATO updates their records. You will receive a confirmation from us by email and SMS once your ABN is active. You can look up on our ABN lookup service to see if your ABN number is still active.
How much the ABN application cost?
We charge an administration fee of $69.00 to process your ABN application. This fee is for reviewing your application for errors, submitting your ABN application and following up on any errors on your ABN application.
How do I find out If I have a previous ABN number and if it is still active?
You can look up on our ABN lookup service to see if your ABN number is still active. If it is not active, you can fill in our easy one form to reactivate your ABN number.
What does it mean if my ABN is under review?
When processing your ABN may be under revision by the ATO. This could be because of one of the following reasons:
you have not used your ABN for a long time
you have changed any of your names
you hold a name that is very commonly used
My ABN is under review. I have got the Reference Number. When will I receive my ABN?
If your ABN is under review by ATO, it means we have registered your ABN successfully and it needs time to be approved by ATO. Unfortunately, we have to wait for them to manually confirm your details and then they will issue your ABN. It may take 3-7 business days to be approved by ATO. As soon as we receive your ABN number, we will email and SMS you with the details.
Why should you use to apply for the ABN?
We can process the ABN quickly and check the application form for any errors before the ABN is submitted. We can also process multiple applications at once eg. Business names, ABN and GST registrations making the process simple and quick. We offer support from registered tax agents and Chartered Accountants which can help you with any queries that you may have.
BUSINESS NAME REGISTRATION
Can I register my Business Name as "Your Business Name PTY LTD"?
Your ABN is a sole trader ABN and so it cannot use the “Pty Ltd” on the end of your business name. If you are wanting to register a company, it is a different entity type to a sole trader. If you have a company, you have to register the company with ASIC and pay an annual fee to keep the company registered. The company will then be a “Pty Ltd”. As a sole trader, you obtain your sole trader ABN number and can run as many businesses under that ABN as you like and have as many business names as you require.
Why was my Business Name refused?
There could be multiple reasons for your Business Name being rejected. ASIC might reject a name:
- if it is already taken or inappropriate or is similar to a name already taken.
- if the address you have provided is missing a unit number/floor level (if this information is required for delivery), that includes ‘Corner of’, or that is a PO box.
- if the property address provided by you is not accepted by Australia Post as a postal address.
If my first Business Name was refused, will I be required to pay again?
If ASIC rejects your request to register a business name, one of our team members will contact you by email, asking you for an alternative business name that you would like us to check and register FREE OF CHARGE.
Can I register a Business Name under a cancelled ABN?
No, you cannot register your business name under your cancelled ABN. The ABN must be active. Once we register your ABN and it is showing on the ATO website as ACTIVE, only then we are able to register your business name. We cannot process the business name until the ABN is showing as active and then it can take a few hours (sometimes it may take up to 24h) for the business name to be approved.
As soon as it is approved, we will send you an email with the record of the business name registration. If your ABN is not active, you can fill in our easy form to reactivate your ABN number.
If my profession changes in time, am I required to apply for a different ABN?
No, you are not required to reapply. You can have more than one business under your sole trader ABN. For example, if you had previously registered your ABN as a “cleaner” and now working as a “carpenter”, it is okay if your ABN is still classified under “cleaner”.
GST REGISTRATION
How do I register for GST online?
> In order to register for GST online, all you need to do is fill out our simple one-page form, it will take you less than 2 minutes.
> Once submitted, we will ensure all details are correct, process the order and confirm you have been properly registered with the ATO.
> Best of all, you do not have to deal with anyone else. You will not need to worry about wasting time on the phone, meeting technical requirements and, more importantly, waiting for a registration confirmation. Our registration process is extremely fast and straightforward, with 95% of online registrations being completed on the same day.
Do I need to register for GST?
You will have to register for GST if:
> Your business has a GST turnover of over $75,000 a year ($150,000 if you are a non-profit organization); or you provide Taxi travel in exchange for a fare as a part of your business (this includes ridesharing services like Uber, Didi, Ola or Taxify). As the owner of a business, it will be your responsibility to ensure that it becomes GST registered if you realize its turnover is likely to exceed the $75,000 threshold.
> If your annual turnover is lower than the $75,000 threshold, you can register for GST as well, but you will be required to begin charging GST. There are some instances where registering for GST when not required can bring some financial benefits (more on that on a question below).
Do I need a GST number as a Uber/Taxi driver?
Yes, all Uber and taxi drivers in Australia must register for GST. This is because the Australian Tax Office (ATO) has special tax laws for taxi and rideshare drivers. The usual GST registration threshold of $75,000 does not apply to Uber and taxi drivers, instead they must register for GST from the first dollar they earn.
Do I need an ABN for GST?
You will need an ABN to register for GST. GST is registered to the business ABN. This allows you to potentially register one business while not registering another that you own (as long as the second business is under the $75,000 threshold).
What date do I need to register for GST by?
You will have 21 days from the day you realised that your turnover will exceed the $75,000 threshold. It is important to check regularly just in case you exceed the threshold faster than expected. If you are earning under the $75,000 threshold you can still register, however, you must then include GST in your fees regardless of your turnover.
How do I register for GST as a sole trader?
Registering for GST as a sole trader is the same as registering any other business type. You fill out our simple online GST registry form and we will handle the rest all with our usual same-day GST registration.
What are the advantages of online GST registration?
> 99% of registration submissions have their GST registration completed on the same business day.
Don’t wait for your GST registration. Fill out the form HERE.
- This form takes roughly 2 minutes and will be processed by professionals to make the process quick and easy. Once the application has been submitted and payment has been processed, you will receive an order confirmation email. In the following 24 business hours, you will receive a GST registration confirmation email, including a confirmation attachment from the ATO portal. An email notification is sent when the order has been received and another email once the registration has been completed.
- Your registration is handled by licensed ATO tax agents. We can provide support if you need help. As long as the start date of your registration is the same day or before it, you can claim GST credits for your registration (future-dated registrations are not eligible).
What are my obligations after registering for GST?
Once you are registered for GST, your bookkeeping and accounting will change. You will now have to do the following:
> Lodge BAS reports showing how much GST you have received and paid on either a monthly, quarterly or annual time period. This can be easy or difficult, depending on the complexity of your business. Update your invoices to have GST added on. Keep up to date with your lodgements and keep good records of your receipts. It is incredibly important to keep all receipts for your business, big or small.
> The ATO requires documents to be kept and maintained in case of an audit or review. Not having the appropriate documentation will lead to fines and penalties.
Are there any financial benefits to registering for GST?
Even if your turnover is under the $75,000 threshold, if you work the numbers, you might be increasing your profit if you register for GST.