ABN stands for Australian Business Number, a unique 11-digit identifier that makes it easier for businesses and all levels of government to interact in Australia. An ABN is required for various purposes, such as operating in the GST system, claiming GST credits, registering a business name or a company, and applying for government grants or incentives. An ABN can be obtained from the Australian Business Register (ABR) or the Australian Securities and Investments Commission (ASIC), depending on the type of business entity. Having an ABN can also help businesses to establish their identity and credibility in the market.
How to Cancel Abn Subscription?
How to Cancel Your ABN
An ABN, or Australian Business Number, is a unique 11-digit identifier that makes it easier for businesses and all levels of government to interact in Australia. However, if your business has ceased operating, sold, changed its structure, or no longer operates in Australia, you may need to cancel your ABN. This article will guide you through the steps of how to cancel your ABN online or offline.
Before You Cancel Your ABN
Before you can cancel your ABN, you need to make sure that you have met all your lodgment, reporting and payment obligations with any government agencies that you deal with. For example, you may need to:
- lodge activity statements
- lodge pay as you go (PAYG) withholding reports
- repay goods and services tax (GST) credit refunds
- pay outstanding tax debts
It is recommended that you wait to cancel your ABN until all these processes are completed. Otherwise, you may face penalties or difficulties in accessing some government online services.
You should also be aware that cancelling your ABN will also cancel your registration for:
- any representative holding a login credential for your business
- GST, luxury car tax (LCT), wine equalisation tax (WET) and fuel tax credits (FTC)
How to Cancel Your ABN Online
The fastest and easiest way to cancel your ABN is online using myGovID and Relationship Authorisation Manager (RAM). Your myGovID needs to be linked to your ABN using RAM. To cancel your ABN online, follow these steps:
- Go to the Australian Business Register website and click on the “Cancel your ABN” button.
- Log in with your myGovID and select the business that you want to cancel the ABN for.
- Confirm that you have met all your obligations and that you want to proceed with the cancellation.
- Review the details of the cancellation and submit the request.
- You will receive a confirmation message and an email with a reference number.
All changes you make online to your ABN will take effect immediately.
Note: If you want to cancel your PAYG withholding, you must cancel it before you cancel your ABN.
How to Cancel Your ABN Offline
If you are unable to cancel your ABN online, there are other options available. You can:
- Call the Australian Business Register on 13 92 26 between 8am and 6pm, Monday to Friday. You must be recorded as authorised to update ABN details for your business. You will also need to prove your identity by providing your tax file number (TFN) or other information.
- Lodge an Application to Cancel Registration form by mail. You can order this form online by searching for NAT number 2955 on the ATO website. You will need to fill out the form with your details and reasons for cancellation and send it to the address provided on the form.
- Ask your registered tax agent or BAS agent to cancel your ABN on your behalf. They will need to have access to your ABN details and authorisation from you.
Cancelling your ABN is an important step when you close or change your business. You should make sure that you have met all your obligations before you cancel your ABN and choose the method that suits you best. Cancelling your ABN will also affect other registrations that are linked to it, so be prepared for the changes that may follow. If you need more information or assistance, you can visit the ABR website, the ATO website, or contact them by phone or mail.