How Much Does an ABN Cost? (2024 Update)

How Much Does an ABN Cost? (2024 Update)

When starting a business, an Australian Business Number (ABN) is one of the first things you’ll need. An ABN is a unique number which identifies all registered businesses in Australia. Sole traders, partnerships, and companies all need to have an ABN to trade, as do businesses which have a turnover of $75,000 or more per year. This article will take you through the registration process and the cost of an ABN.

Table of Contents

How Much Does An ABN Cost?

It is possible to register an ABN through the Government without charge. However, Lawpath offers on-demand support & additional benefits when using our ABN application service. We charge a one-off fee of $50 to submit your ABN application to the ATO for processing. Along with registration, we provide you with:

  • Phone & Email Support
  • Free Lawpath Account
  • Business Plan (valued at $99)
  • Free Business Name Search
  • $10,000+ Worth of Partner Offers from Xero, Canva, Godaddy and more

    Start your ABN application in minutes!

    Need an Australian Business Number to start a casual job? We've got you covered.

Where Can I Get An ABN?

You can register an ABN through the ABR (Australian Business Register). Alternatively, Lawpath offers a comprehensive online ABN registration service with on-demand support from experts to help you along the way. Submitting a form takes under 5 minutes and we will accelerate your application to email you with your new ABN within 24 hours to help you get up & running.

On another note, we highly recommend checking if you are eligible here (if you actually require an ABN by law) and to determine what business structure is the most suitable for your business before applying.

The Benefits of Registering an ABN

Additional benefits to having an ABN for you and your business include:

  • Being able to register for GST or PAYG
  • Being able to register a business name and/or a domain
  • Payments will not be withheld. This is because business clients have to withhold 47% of payments if an ABN is not quoted on the invoice
  • Enhancing the legitimacy of your business by including an ABN on your tax invoices and/or website

What Information Do I Need To Supply?

When filling out an application, you will be required to submit details about your business, such as:

  • Locations where you will be trading
  • Contact details
  • Your tax file number (TFN)

For more information on the requirements to submit your application, including whether you are entitled to an ABN, check out our legal guide on how to apply for an ABN.

What About Reactivating a Cancelled ABN?

If your ABN has been cancelled, you can reactivate it by re-applying through the ABR website. Their system will recognise your pre-existing ABN and eventually display as active on the register.

It’s essential that you reactivate your ABN as soon as possible. This is because it’s an offence to quote an inactive ABN in a transaction.

For more on this topic visit how to reactivate your ABN.

Article Summary

Depending on your business structure, additional costs may arise to legitimise your business, such as applying for an ACN if you are registering a company. It’s important to make sure you have a valid ABN when trading as a sole trader, partnership, or company. If you have further questions about structuring your business, it may be worth getting in touch with a business lawyer for advice.

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