ABN (Australian Business Number) Overview
ABN stands for Australian Business Number, a unique identifier for legally registered businesses in Australia. It is required for businesses with an annual turnover exceeding $75,000. Applying for an ABN is a straightforward online process that links the number to your company name if registered.
Operating Multiple Businesses under ABN
- A sole trader can conduct multiple businesses under one ABN, while partnerships require separate ABNs.
- Running multiple businesses under one company is feasible but comes with constraints.
- Consider having distinct trading names, bookkeeping data, and bank accounts for each business to ensure proper accounting.
Business Structure and ABN
- Businesses with the same structure can operate under one ABN, while different structures necessitate separate ABNs.
- Collaborative planning between partners can effectively run a company and allocate shares accordingly.
Applying for a New ABN
If your new business name operates under a different structure, you will need to apply for a new ABN. Our services can assist you in registering your new business name and obtaining the new ABN promptly.
Business Expansion and Diversification
Small business owners may register multiple names under one ABN to expand or diversify, streamlining operations and reducing administrative tasks.