ATO to cancel inactive ABNs
2 December 2019
The ATO is set to cancel inactive ABNs to ensure the integrity of information held on the Australian Business Register.
To help the ATO determine if an ABN is inactive, they will be examining information gathered from tax returns and other lodgments, as well as third party information.
If your ABN gets cancelled and you are still using it, you will be able to reapply to get it back.
If you reapply and your business structure remains the same, you will be able to get your previous ABN back.
If your business structure has changed (e.g. you were a sole trader but you’re now a company), you will be issued with a different ABN.
For more information, visit the ATO website
Contact the team at Shakespeare on 08 9321 2111 if you would like to discuss how this may apply to your individual circumstances.
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