Helpful tips 

How can I find my ACN?

Joe Ford

How can I find my ACN?

A company’s name and ACN must appear on the first page of any documents. When multiple companies are on a document (eg. a letterhead), the ACN for each company must be displayed next to each company’s name.

How do you find a company number?

You can find your company registration number in several places:

  1. On the company’s certificate of incorporation.
  2. Emails or other correspondence from your company formation agent or accountant.
  3. On a change of company name certificate.
  4. Any official letters or other documentation received from Companies House.

Do sole traders need an ACN?

ABNs and ACNs are specific numbers that identify your business. However, not all businesses will have an Australian Company Number (ACN). To run a business as a sole trader, all you need to do is register an ABN.

Do you need both ABN and ACN?

All businesses irrespective of size or turnover must apply to the ATO to obtain an ABN and you must display that ABN on all your invoices. A company’s ABN will always be two digits followed by the 9 digits of their ACN. While every business needs an ABN, not every business entity has to register for GST.

Is it better to be a company or sole trader?

One of the biggest benefits of having a limited company structure instead of operating as a sole trader is that with a limited company you have limited liability. Therefore, it’s better to create limited liability as your personal finances and assets are protected should there be problems with the business finances.

When to change from a sole trader to a company?

Answer: As your business grows, you may find yourself outgrowing your sole trader structure. If you intend to hire employees, seek investment for your business or manage your personal liability, you may consider changing to a company structure. The law treats a company as a separate legal entity.

Why do I need an ACN number?

The purpose of the ACN number is to enable shareholders, partners, customers, other businesses and ASIC to identify the company. The ACN can also be used to search for information on a company; for example, an ACN is proof that a company is an incorporated entity.

Can an ACN have multiple Abns?

Yes, you can operate two businesses from the same company. In these circumstances, you can use the company’s ABN to operate both companies. However, it is best practice to have two separate companies to conduct more than one business.

How do I know if I am registered for GST?

You must register for GST:

  1. when your business or enterprise has a GST turnover (gross income minus GST) of $75,000 or more (see Working out your GST turnover)
  2. when you start a new business and expect your turnover to reach the GST threshold (or more) in the first year of operation.

What to do if a supplier is not registered for GST?

What do I do if a supplier charges GST while not registered?

  1. Ask for a refund of the 10% extra charged.
  2. Ask for the invoice to be reissued, removing the extra 10% charged and showing no GST was charged.
  3. Do not claim the GST amount in your Business Activity Statement.

Can I use same GST number for multiple business?

GST Registration is PAN based & state specific, however more than one GSTIN can be obtained in a single state or union territory if a person carries on multiple business verticals or having multiple branches within the state or union territory as the case may be.

Can I get 2 GST number on same address?

They are entitled to get separate GST registration from the same address. The Authority held that there is no prohibition in the GST Act for obtaining registration in a shared office space or virtual office, if the landlord permits such sub leasing as per the agreement.

Can I use a single GST number for selling products and services?

YES, WITH SINGLE GST . YOU CAN DO N NUMBER OF BUSINESS.