Here's some of our most commonly asked questions about ABNs and GST.
What is an ABN?
An Australian Business Number (ABN) is a unique 11 digit number that identifies your business or organisation In Australia.
Do I need an ABN?
You will need an ABN if you are running a business, including as a sole trader, or if you are operating as a contractor or working in the sharing economy if you are required to be registered for GST.
What is GST?
Goods and Services Tax (GST) is consumer based 10% tax on most goods and services which businesses (including sole traders) collect on the income they earn and pass onto the ATO. You can also claim GST credits on a number of expense relating to running your business.
Do I need to be registered for GST?
You need to be registered for GST if:
- You have a GST turnover (gross income minus GST) of $75 000 or more.
- You provide taxi travel for passengers in exchange for a fare, regardless of your GST turnover – this applies to both owner drivers and those who lease or rent a taxi.
- You want to claim fuel tax credits for your business or enterprise.
What will happen after I submit a ABN/GST application to Airtax?
We will complete the ABN & GST registration on your behalf and send you a confirmation email, including your new ABN, once this has been finalised.