Applying for ABN

by AidanKay

Posted: 13 years ago 5 replies

INTERNET MARKETING

G'day,

I'm applying for an ABN# to work in the SEO/IM market legitamitely.

It's been pretty breezy so far, but I've come across this question "Are you conducting your activity predominantly as a hobby?".

That's a sort-of yesand no question. But should I put 'yes' to show my commitment?

Cheers,

-Aidan.

#abn #applying

WillR 13 years ago

'Yes' will not show your commitment. If you are serious about it and looking to make money then obviously it is not a hobby so your answer would be "No". Would you tell your potential customers it is just a hobby? I'm not sure why they even ask this question and I don't remember that being a question when I got my ABN#.

Anyhoot, I don't think it will really matter, you should still receive your ABN. Just remember that although the ABN is free, if you don't use it for a tax period it will get cancelled. The easiest way to stop this from happening, even if you don't earn a dime, is to just claim some business expenses against it - things like your hosting, domains, etc, etc.
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John Romaine 13 years ago

Be careful.

I *think* the way in which you answer that question could have tax ramifications.
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tpw 13 years ago

ABN = Australian Business Number ??

Originally Posted by ramone_johnny

Be careful.

I *think* the way in which you answer that question could have tax ramifications.

If he is trying to legitimize his business, wouldn't it make sense to be honest about it?
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- Benjamin Norman 13 years ago
  
  It shouldn't matter. I have two ABNs and each time I put them down as a hobby. Only the ATO will see it down as a hobby and I think this question may just flag it for tax purposes down the track.
  
  The first time I got one, I couldn't believe how easy it was to get so you shouldn't have a problem.
  
  Thanks
  
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- John Romaine 13 years ago
  
  Originally Posted by tpw
  
  ABN = Australian Business Number ??
  
  If he is trying to legitimize his business, wouldn't it make sense to be honest about it?
  
  Absolutely
  
  Theres a threshold that can be earnt without having to pay tax. Dont quote me on this, but I *think* its just been increased to 20K a year.
  
  ABN - Australian Business Number.
  
  Thanks
  
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