The Australian Business Number (ABN) is a key business identifier used by business, government and the community. However, the Black Economy Taskforce found that the ABN system is also used by black economy operators to provide a false sense of legitimacy to their business.
The Australian Government is looking at the best way to strengthen and modernise the ABN system, and is seeking feedback.
Members can make comments and suggestions through a consultation process being run by the Commonwealth Department of Treasury.
The consultation paper discusses possible changes to the ABN system including adjusting ABN entitlement rules, imposing conditions on ABN holders, and introducing a renewal process including a renewal fee.
The closing date for making a submission is 31 August 2018.
This is your opportunity to help build improvements to the ABN system. Please see https://treasury.gov.au/consultation/c2018-t311320/ for details.
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