You don’t have to have one but there can be disadvantages if you don’t like not being able to use the government’s Pay As You Go system. The PAYG system makes calculating tax deductions for employees, customers and suppliers much easier.
So, to get an ABN you’ll need:
- Proof of identification
- Your Tax File Number (TFN)
- Your tax agent’s number
If your business is a company (it has shareholders and a director) you will need to register with the Australian Securities and Investments Commission (ASIC) before applying for an ABN.