8 April 2015 - With all the day-to-day demands of running a business, it can be easy to overlook little things like the accuracy of your ABN record.
But it’s important. As you know, once you obtain an ABN your details are available to other businesses to verify your business and GST status.
Remember to update your ABN details within 28 days if you change address (location, postal, email), phone number, entity type or other details such as contact and associate details.
Not only are you doing the right thing as a responsible business-owner, you also stand a better chance of hearing about government activities that could benefit your business.
Your ABN details are used by government agencies to plan for community and infrastructure developments that you need to know about.
Here's a scenario that may help you
Kayaking specialists Jeff and Rosalie run a small business in regional Victoria, offering tours of the local wetlands.
When they changed their email address six months ago, they made sure to advise all their valued clients but overlooked updating their ABN record.
As a result, Jeff and Rosalie did not receive an email notification from the local council advising tour operators about a grants program to boost regional tourism.
The council had used ABR data available only to government authorities to obtain contact details for tourism operators in their region.
Although they were eligible, Jeff and Rosalie missed out on funding and a valuable opportunity to be featured in a regional publicity campaign on grant recipients.
Find out more
How to update your ABN