Before you start a new business, and in order to comply will all applicable regulations, it’s important to know what registrations apply to your business. You also need to know whether you are entitled to some registrations, such as ABN, as not everyone is entitled to an ABN.
Tax File Number (TFN) and Australian Business Number (ABN) are two common registrations required by a business in Australia. If your business has an annual turnover of $75,000 or more, then your business must be registered for GST. Turnover includes any grants or payments from government. If your turnover is less than these limits you do not have to register for GST but may choose to do so. We can help you consider the nature of your activities. Rather than hunt around, trying to find time to apply for ABN or GST registration, we can save you time by organising both registrations for you.
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