Australian Business Guide

Everything you need to know about ABN, GST, invoicing, and tax requirements for Australian businesses

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ABN (Australian Business Number) Guide

What is an ABN?

An ABN is a unique 11-digit number that identifies your business to the government and community. It's essential for Australian businesses to conduct business and claim GST credits.

Who Needs an ABN?

  • Sole traders - Individual business owners
  • Partnerships - Business partnerships
  • Companies - Registered companies
  • Trusts - Business trusts
  • Superannuation funds - Self-managed funds

How to Apply for an ABN

  1. Visit the Australian Business Register
  2. Complete the online application form
  3. Provide required business and personal details
  4. Submit and receive your ABN immediately (if eligible)
Pro Tip: Include your ABN on all invoices to avoid having 47% tax withheld from payments.

Quick Tips

  • ABN is free to apply
  • Valid for life unless cancelled
  • Required for GST registration
  • Must be displayed on invoices

GST (Goods and Services Tax) Guide

What is GST?

GST is a 10% tax on most goods and services sold in Australia. It's designed to be collected by businesses and passed on to the Australian Taxation Office (ATO).

When Must You Register for GST?

  • Your business turnover is $75,000 or more per year
  • You provide taxi or limousine services
  • You want to claim GST credits
  • You're a non-profit with turnover of $150,000+

GST Registration Process

  1. Ensure you have an ABN first
  2. Apply for GST registration through the ATO
  3. Start charging GST on your sales
  4. Lodge BAS (Business Activity Statement) regularly

GST on Invoices

When registered for GST, you must:

  • Charge 10% GST on taxable supplies
  • Show GST amount separately on invoices
  • Include your ABN on invoices
  • Keep records for 5 years
Important: GST registration is mandatory once you reach the threshold. Late registration can result in penalties.

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Australian Invoice Requirements

Required Information

  • Business name and contact details
  • ABN (if registered)
  • Invoice number (unique identifier)
  • Date of issue
  • Client details (name, address)
  • Description of goods/services
  • Amount (including GST if applicable)

Best Practices

  • Use clear, professional formatting
  • Include payment terms and due date
  • Provide multiple payment options
  • Keep copies for your records
  • Send invoices promptly
  • Follow up on overdue payments
  • Use consistent numbering system

BAS (Business Activity Statement) Preparation

What is a BAS?

The Business Activity Statement is a form you lodge with the ATO to report and pay GST, PAYG withholding, and other taxes.

BAS Lodgement Requirements

Monthly BAS (if turnover > $20 million)

Due 21st of the following month

Quarterly BAS (most common)

Due 28th October, 28th February, 28th April, 28th July

Information Needed for BAS

  • Total sales (including GST)
  • GST collected on sales
  • GST paid on purchases
  • PAYG withholding amounts
  • PAYG instalment amounts
Pro Tip: Keep detailed records of all invoices and receipts to make BAS preparation easier. Our invoice generator helps you maintain professional records.

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