If tapping into the Internet millions is your pathway to the future, it might be worth considering an Australian Business Number before making any further progress. Your number is a key factor in running an online business and without one, your potential will be significantly reduced.
Primarily, you will need an Australian Business Number to open communications with the Australian Tax Office. Once your registration is in place, you will be integrated into the existing tax system and be able to receive notices of payments due from the Australian Tax Office itself. You will also be placed on the Australian Business Register and this means that other businesses will be able to check your credentials before deciding to work in partnership with your own.
More importantly, you will be able to receive all monies due to you business whenever invoices are settled. If you do not display a valid Australian Business Number on your documentation, other business entities are obliged to hold back 46.5% of your payments and pass them on to the Australian Tax Office to ensure your financial obligations are met.
Trading Online
Perhaps the biggest advantage to gaining an Australian Business Number in the online world is the element of trust that it produces. When Australian consumers see that you are a registered business, they will usually be more inclined to use your services. As well as having an improved sense of redress if a transaction goes wrong, Australians tend to have more faith in domestic products and services.
With identification in place, you will be entitled to purchase Australian domain names and this will give your operation another competitive edge in the highly competitive online marketplace. Any domain name that ends in suffix will be a trusted resource amongst Australian consumers and bring in more business.
Although you will have other choices available, an Australian domain will be more appealing to the Australian public. If your number is displayed on site as well, your credibility will go into overdrive and your prospects will convert into paying customers more regularly.
As complicated as the world of the Australian Business Number might initially seem, your own business registration can be made easier through the use of a third party service that deals with the Australian Tax Office on your behalf.
Why does my Business need an Australian Business Number?
Primarily, you will need an Australian Business Number to open communications with the Australian Tax Office. Once your registration is in place, you will be integrated into the existing tax system and be able to receive notices of payments due from the Australian Tax Office itself. You will also be placed on the Australian Business Register and this means that other businesses will be able to check your credentials before deciding to work in partnership with your own.
More importantly, you will be able to receive all monies due to you business whenever invoices are settled. If you do not display a valid Australian Business Number on your documentation, other business entities are obliged to hold back 46.5% of your payments and pass them on to the Australian Tax Office to ensure your financial obligations are met.
Trading Online
Perhaps the biggest advantage to gaining an Australian Business Number in the online world is the element of trust that it produces. When Australian consumers see that you are a registered business, they will usually be more inclined to use your services. As well as having an improved sense of redress if a transaction goes wrong, Australians tend to have more faith in domestic products and services.
Domain Names
With identification in place, you will be entitled to purchase Australian domain names and this will give your operation another competitive edge in the highly competitive online marketplace. Any domain name that ends in suffix will be a trusted resource amongst Australian consumers and bring in more business.
Although you will have other choices available, an Australian domain will be more appealing to the Australian public. If your number is displayed on site as well, your credibility will go into overdrive and your prospects will convert into paying customers more regularly.
As complicated as the world of the Australian Business Number might initially seem, your own business registration can be made easier through the use of a third party service that deals with the Australian Tax Office on your behalf.