Noticed an ABN i applied for online has just turned three years old and a few days. Have i left it to late i heard i have to renew them every three years to keep it active?
I rang ATO and the hold time was 40 minutes, hung up.
I have never renewed any of my ABNs and it has been more than 3 years. I did have one cancelled because it hadn't been used though.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
It's one i haven't used but thought i would in the next year or so!
Jaffa just tell them you intend to start using it shortly and they should hold off the cancellation.
Richard Taylor | Australia's leading private lender
They will send you a letter before cancelling it and you can provide reasons why they shouldn't cancel.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
The ATO does not cancel ABN's on its own accord.
If you have not used your ABN within 2 or 3 consequetive tax returns it will spark a letter asking if you are still using the ABN or not. If you do no reply to the letter within the certain timeframe – the ATO will then proceed to cancel it.
Fletcher Tax Accountants
http://www.fletchertaxaccountants.com.auOh good. I'm not as concerned about it fading out now!
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