Over the coming months the ATO is increasing its focus on the bulk ABN cancellation program, to continue to ensure the integrity of the Australian Business Register.
The ATO has refined its models to help it identify businesses that are no longer active or have forgotten to cancel their ABN when they ceased business.
Things the ATO looks for include ABN holders that:
- have stopped reporting business income or expenses; or.
- Provide the ATO with no other indication they may be in business.
The ATO excludes those they know are renting out property or are receiving income elsewhere.
If you have had your ABN cancelled and you need it reinstated, the please contact one of our tax accountants on 1300 QUINNS (1300 784 667) or on +61 2 9223 9166 to arrange a teleconference or appointment. Alternatively, please click here to submit an online enquiry form.