If the ATO believes you are no longer carrying on an enterprise, they may contact you to advise of their intention to cancel the Australian Business Number (ABN).
The ATO will carry on with its bulk ABN cancellation program in a bid to stamp out inactive ABNs, as the government continues to mull reforming the system.
Tax and the enterprise of renting, hiring or sharing their car, caravan or RV sharing If you rent, hire or share your car, caravan or recreational vehicle (RV) through a sharing economy platform, you: must declare the income in your tax return may need to pay… Read More >>
Sole traders, partnerships and trusts take note To maintain accurate data, the Australian Business Register (ABR) periodically checks its records for Australian Business Numbers (ABNs) and automatically cancels those that appear inactive. The ABR checks are happening throughout 2018. You may have your sole trader,… Read More >>