Australian Business Number (ABN)

Get your ABN to start working in Australia.

Australian Business Number (ABN)

An ABN is not the same as a TFN. A TFN is for personal tax purposes, whereas an ABN is required for business dealings. If you are a backpacker and want to be self-employed while in Australia, then you need to apply for an ABN. That is, you will be entitled to have an ABN, if you are carrying on a business in Australia.

Why do you need an ABN?

You will require ABN for the following reasons:

  • Transactions with other businesses;
  • Correspondence with the tax office;
  • Dealing with government agencies;
  • Confirming details for ordering and invoicing with other businesses;
  • Claiming goods and services tax (GST) credits;
  • Claiming any fuel tax credits, you qualify for.

If your business has an annual turnover of $75,000 or more, you must register for GST and you’ll need an ABN to do this. If your business has a lower annual turnover, it’s up to you whether you register or not.

How will you obtain an ABN?

You can apply for your ABN through Tax Shark. Just provide us with the necessary information such as your name, address, date of birth, TFN, etc. which will be required for proper registration. The postal address you include in your application form is where you will be receiving your ABN after maximum of 28 days.

Benefits of an ABN

  • Get paid according to your tasks, not according to the number of hours you have worked;
  • Have more possibilities of deductions for tax purpose, which you may claim in your tax return to reduce your tax liabilities (for example phone bills, work purpose travel, costs of keeping an Australian bank account etc.);

Tips for you to know

  • Stay organised and keep you documents properly secured;
  • Look for registered tax agents like Tax Shark;
  • Plan to apply for your refund in advance;
  • Make sure you have your ABN and TFN, along with the address where your ABN is registered.

Let’s start the Journey!