Your ABN: Is it Still Active?
Is your ABN still active? The ATO has brought in an automated cancellation notification service for potentially inactive Australian Business Numbers (ABNs).
Suppose you haven’t had any business activity or are behind in getting your activity statements lodged. In that case, the ATO will review your ABN. Then they will send a message asking you or your registered agent to confirm if the ABN is still required.
If your business has reduced or paused activity, you still need to lodge an activity statement. Even if the amount reported is little or nil.
Has your business stopped trading? You should cancel your ABN. If the ATO contacts you or your agent, you don’t need to do anything – the ATO will cancel the ABN.
Perhaps, the ATO cancelled your ABN automatically in error. If you plan to continue business activity, you’ll need to reactivate the ABN.
It’s good to review your ABN details annually to make sure your contact details are up to date. In that case you are sure to receive the ATO’s ABN cancellation notifications before they act.
It’s important to have the correct address, phone, email and authorised contact details. Government emergency services use this data to contact people during natural disasters.
Talk to us today if you’d like us to; check if your ABN is active, update your details on the Australian Business Register, or reactivate a cancelled ABN.