• Are you registered for an ABN as a sole trader?

    The Registrar of the Australian Business Register (ABR) has found some tax professionals run their business through a company or trust, but also have an ABN as a sole trader.

    This means they may receive salary and wages or distributions from their business. ABN registration as a sole trader is only required where income is earned as a sole trader.

    The Registrar intends to cancel these sole trader ABNs. Letters notifying of the intention to cancel, where there is no evidence a business is being carried on under the sole trader ABN, will be sent to approximately 200 tax professionals.

    If you receive a letter and want your ABN to remain active, you need to provide evidence the ABN is required.

    AUSkey and GST registrations associated with the ABN will also be cancelled. If you still require an AUSkey, you will need to apply for another one and link it to the ABN of your trading business. This will ensure you don't lose access to online services.

    • Last modified: 15 Jun 2016QC 1098