What to Do After You Get Your ABN

Congratulations - you’ve received your Australian Business Number (ABN). But registering your ABN is just the beginning.

There are a few important steps you should take to properly set up your business and stay compliant with the ATO.

In this article, we’ll walk through:

• How to use your ABN
• Register for GST (if required)
• Open a business bank account
• Set up invoicing and record keeping
• Understand your tax obligations

Still need an ABN? Apply for your ABN online with Register My ABN – it only takes 5 minutes.

1. How to use your ABN

Once your ABN is issued you should save a copy of your confirmation email or letter. If you need to find your ABN, you can always look up your ABN via the ABN Lookup tool.

Your ABN is required when:

• Issuing invoices to clients
• Registering for GST
• Opening a business bank account
• Purchasing insurance or signing supplier agreements

It proves you’re operating a registered business in Australia and ensures clients can pay you legally.

2. Register for GST (if required)

You must register for GST if:

• You expect to earn $75,000 or more per financial year
• You work in the rideshare or delivery industry, such as Uber or DoorDash - in these cases, GST registration is mandatory regardless of income

You can register for GST through your ATO Online Services.

3. Open a business bank account

While not legally required, the ATO recommends that you open a separate bank account for your business.

This helps you:

• Keep business and personal finances separate
• Make invoicing and record keeping cleaner
• Look more professional when dealing with clients

Most banks offer low-fee business accounts suitable for sole traders.

4. Set up invoicing and record keeping

Invoicing is an important part of getting paid. You need to ensure you include all the information necessary to meet requirements from the ATO.

To invoice clients, you should set up your business invoices correctly such as:

• Including your name or registered business name
• Adding your ABN clearly on each invoice
• Specifying whether GST is included (if registered)

You must also keep accurate records of income and expenses. This is both a legal requirement and a huge help at tax time.

5. Understand your tax obligations

As a sole trader:

• You report business income through your personal tax return
• You may be able to claim business-related deductions
• You might need to start PAYG instalments if your income grows

If you’re unsure, it’s worth speaking to a bookkeeper or accountant early on to make sure you're staying compliant and not overpaying tax.

Ready to start your business?

Getting your ABN is an exciting first step but there are a few things to check off before you're ready to operate professionally.

Follow these steps to:

• Start your business on the right foot
• Stay compliant with the ATO
• Make it easier to get paid and track your finances

Need to register or reapply for your ABN? Apply through Register My ABN - it takes less than 5 minutes for only $45 incl. GST.