The Australian Business Number (ABN) is a single identifier for all business dealings with the tax office and for dealings with other government departments and agencies. It is beneficial to have an ABN to:
– help you claim goods and services tax (GST) credits
– let you claim fuel tax credits you qualify for
– avoid, if not quoted to businesses you deal with, amounts being withheld from payments to you under pay as you go (PAYG) withholding
– allow businesses to easily confirm your details for ordering and invoicing.
– get an AUSkey to transact online with government agencies
– be endorsed as a gift deductible recipient or an income tax exempt charity.