ABN or ACN as a ndis provider
Do I want to work under an ABN number or a Company ACN number as a ndis provider?
You can work under either option!
An ABN is a unique identifier made up of 11-digits that is issued by the Australian Taxation Office (ATO) to sole traders, partnerships, companies, trusts and other organisations. Individuals, partnerships and companies operating using an ABN can also commonly be registered for GST (Goods and Services Tax) and PAYG (pay as you go with withholding). You can apply for an ABN at any time, and will just need to select whether you are applying for a sole trader, partnership or company ABN to get started. An active ABN is also required to register a business name in Australia, regardless of whether or not you are operating as a company, partnership or sole trader. Even if you already have an ABN as an individual or sole trader, you will require a new one for your company as it is considered a separate entity to yourself.
An Australian Company Number (ACN) is a unique nine-digit number issued by the Australian Securities and Investments Commission (ASIC) to all companies registered in Australia. These unique details allow ASIC to monitor the activities of each company and identify the information connected to each registration. To ensure these details remain active, and your company is registered, ASIC requires all company details to be renewed annually.
Setting up an ABN Number with the ATO is a simple process and can be completed by yourself if you are confident. However, if you are not or wish to register for an ACN Number we suggest that you consult an accountant. Please ensure you obtain multiple quotes for this service as accountants’ prices vary greatly.
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