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10 July 2017If you’re selling, closing or restructing your business, you need to start thinking about cancelling your Australian business number (ABN) or updating your details. Cancelling your ABN will:. cancel your registrations for goods and services tax (GST), luxury car tax, wine equalisation tax and fuel tax credits. cancel any AUSkeys linked to your ABN.Before you cancel your ABN make sure you have met all your lodgment, reporting and payment obligations. This may include lodging pay as you go withholding reports or tax returns, paying outstanding tax debts or finalising your business activity statement.If you don't cancel your ABN, you may continue to be contacted by us or other government bodies about your business.You may also need to cancel your ABN if your business structure changes.
Australian Business Number (ABN) From 1 July 2000, anyone carrying on an enterprise (this is usually a business) should quote their Australian business number (ABN – an 11 digit number) in relation to goods or services they supply to another enterprise. If they don’t, the general rule is that the payer must withhold 47% from the. According to the business register’s website, the ABR can conduct reviews of Australian ABNs and may determine an ABN should be cancelled for a number of reasons.
For example if the business is moving from a sole trader to a partnership, you will need to cancel your ABN and apply for a new one. However, if you restart your business in the future getting your ABN back is easy, just reapply online.Next steps:. Cancel your ABN online using. by mail.