Do I need an ABN to do contract paraplanning?

Do I need an ABN?

An Australian Business Number (ABN) is not compulsory, but it does allow you to: 

  • facilitate a single Business Activity Statement (BAS) 
  • confirm your business identity to others when ordering and invoicing 
  • avoid Pay as You Go (PAYG) tax on payments you receive 
  • claim Goods and Services Tax (GST) credits 
  • claim energy grants credits 
  • obtain an Australian domain name.

For the above reasons, we strongly advise paraplanners to have an ABN before commencing contract paraplanning. 

Registration is free and can be  commenced here. You may also find this article useful.

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