There are multiple benefits to having an ABN. For example:
- Payment – if included on your invoices, your clients will not be required to deduct PAYG withholding tax of 47%.
- Authority – it provides clients with the confirmation that yours is an established business
- GST Registration – if you want or need to register for GST then an ABN is required.
- Banking – you will need an ABN to open a business bank account
