After the company registration, ASIC supplies the ACN (Australian Company Number) and then you can apply ABN via ATO (Australian Taxation Office) with the A.C.N. provided. It is a separate process.
ABNs are not compulsory. However, there are many good reasons to have one, for example, ABNs help you:
- to deal with the ATO; and
- in dealing with other businesses when supplying goods or services to them or when purchasing goods and services.
You also need an ABN to register for GST. Entities carrying on an enterprise in Australia with a GST turnover of $75,000 must register for GST. More information can be found at ato.gov.au.
