Australian Business Number

I have added another link to the blog – a government site where you can check the validity of someone’s ABN number.

When the supplier does not have an ABN:

• If the price includes goods and services tax (GST), you cannot claim the GST input tax credit for that supply.
• If the total payment for the goods or services is more than $50 excluding any GST, you will have to withhold 46.5 per cent of the payment and pay it to the Tax Office. (Source ATO)

There have been reported cases of people falsifying ABN numbers, e.g. they use a COLES docket ABN #, the recieve the full payment, and then disappear. As a business you NOW still have an obligation to the ATO….Ouch!

So take a few moments and check the ABN # of any new supplier.

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