The Registrar of the Australian Business Register (ABR) will begin cancelling the ABNs of approximately 220,000 trusts, where there is evidence they are no longer carrying on an enterprise.
Trust ABNs will be cancelled in February, where information available indicates that for the last two years the trust has not lodged business activity statements and/or trust income tax returns. Exclusions to these ABN cancellations apply to trusts that are registered with Australian Charities and Not-for-profits Commission or are a non-reporting member of a GST or income tax group.
You or your accountant will receive a letter if your ABN has been cancelled. The letter will include the reason for the cancellation, and a phone number to ring to get the ABN reinstated immediately if you don't agree with the decision.
If your ABN is cancelled and neither you nor your accountant receives a letter, it could mean your contact details are not up to date on their ABN record.
Trust ABNs will be cancelled in February, where information available indicates that for the last two years the trust has not lodged business activity statements and/or trust income tax returns. Exclusions to these ABN cancellations apply to trusts that are registered with Australian Charities and Not-for-profits Commission or are a non-reporting member of a GST or income tax group.
You or your accountant will receive a letter if your ABN has been cancelled. The letter will include the reason for the cancellation, and a phone number to ring to get the ABN reinstated immediately if you don't agree with the decision.
If your ABN is cancelled and neither you nor your accountant receives a letter, it could mean your contact details are not up to date on their ABN record.
RSS Feed