Instantly Apply for your ABN Online.
Instantly Apply for your ABN Online.
Blog Article
To operate a business in Australia you need to have an Australian Business Number
(ABN). This is DIFFERENT to an ACN which is an Australian Company Number.
If you want to drive for UBER, UBER EATS, DOORDASH, you must have an ABN. Register
at https://asicconnect.com.au. To Instantly receive your ABN.
Other Sole Traders, Gig Workers like Support Workers and Contractors also need an
ABN.
From a legal perspective. The Australian Tax Office and ASIC require an ABN for
Tax Compliance: The ABN allows businesses to interact efficiently with the ATO, ensuring that you comply with tax regulations. For example, without an
ABN, you cannot register for GST or claim GST credits on business
expenses.
Invoicing and Payments: An ABN is essential for creating professional invoices. It signals to your clients and suppliers that your business is legitimate.
Without an ABN, businesses may withhold 47% of your payments due to tax
regulations, significantly affecting your cash flow.
Business Recognition: The ABN allows your business to operate within a formal framework. You will be able to register your business name with the
Australian Securities and Investments Commission (ASIC) and use it
legally.
Government Access: The ABN is required for dealing with government departments and accessing certain benefits, grants, or programs designed for Australian
businesses.
Trading with Other Businesses: The ABN helps your business in its dealings with other registered businesses. It also helps you to avoid unnecessary withholding taxes when
trading with other ABN-holding entities.
Registering an Apply for an ABN for UBER ABN is very easy. Goto https://asicconnect.com.au and click REGISTER ABN. You will then fill in the
online form answering a few basic questions like your full name, address, date of
birth and why you need an ABN.
ABN's are usually issued instantly or within 1 hour depending on the ASIC servers.
BusinessNames are also registered via https://asicconnect.com.au.A business name, often referred to as Trading Name, is the Business Name you
want to operate under. For Example, you might register you ABN as a Sole Trader. You then also register your Business Name – Bella’s Bake House, allowing you to operate your business under the name of Bella’s Bake House. If you do not register the business name you have no authority to operate under that name. You also need to make sure no one else is already using that name – you cannot use the same name as someone else.
You can check what names are available by going to https://asicconnect.com.au. Business Names need to get renewed every 1-3 years. 1 year of registration costs $99, 3 years costs $199. You can cancel or transfer the Business Name at any time.
GST is another important consideration. If you have over $75,000 in Turnover you need to Register for GST. This also means you will need to ADD GST to your invoices. Each QTR you will need to complete your Business Activity Statement (BAS) with the ATO. https://asicconnect.com.auis able to handle this for you.
It is important to keep your ABN income and expenses and your personal income and expenses separate. We recommend the spreadsheet tracker from https://asicconnect.com.au/trackeror the online app found at https://apps.apple.com/au/app/idea...ons/id6738115163