Helpful Tips When Applying For An ABN
Taking on jobs and opportunities as a contractor, either on the side or as your main-gig, comes with its own challenges. Whether you represent yourself as a sole trader, or you are starting a small company in which you are looking at doing any contracting work in Australia from, you will need an ABN. The link to apply for an ABN can be found here.
This process can be a little tricky as there are many different questions within the process, however most of them should be fairly straightforward, as there is no one who knows what you do better than you do.
Before you start, know that you will need to have your TFN handy, as well as the the TFN, date of birth and name, OR name, address and date of birth for all key people in your business. Some other key information you might need is:
Tax agent registration number
Previously held ABN, ACN or ARBN
The entity’s legal trading name
Key contact details (for the owner and any associates)
Business activity and locations
Also know that some people do not need an ABN to practice. Check out this link here to see if you are entitled to an ABN.
Once completed, you will usually receive your ABN immediately after finishing the application, if everything in the application is done correctly. If you don't receive your ABN immediately, your application will be processed manually and may take up to 28 days.
And that's it - good luck with your application and we look forward to seeing you flourish in the early days of your contracting career!