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Tax

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You need to have a good understanding of the Australian tax system, even if you have an accountant to help you.

The Australian Business Number (ABN) identifies your business when dealing with the Australian Taxation Office (ATO) and with other government departments and agencies.

You're required to have an ABN in order to comply with the provisions of the new tax system, which covers:

  • the application for an ABN and Tax File Number (TFN)
  • the new business tax accounts:
    • the Goods and Services Tax (GST)
    • luxury car tax
    • wine equalisation tax
    • diesel fuel rebate
    • diesel and alternative fuel grants.