No. A company must have its own unique ABN. You cannot use the ABN registered to you personally as an individual/sole trader or for a partnership.
Once your company has been registered you can apply for an ABN. You can add on an ABN through our company registration form to simplify the process. You can also apply for a TFN, GST and PAYG in the same application.
If you have changed your business structure eg/ from a sole trader to a company, you will now trade under the company ABN and will not need the ABN linked to your sole trader business.
When transitioning from a sole trader to a company structure, it's important to understand that an Australian Business Number (ABN) used for a sole trader cannot be transferred to the new company. Each legal entity requires its own unique ABN, which means that upon registering a company, a new ABN must be obtained for that company. This is a crucial step in ensuring that the business complies with Australian tax laws and regulations.
The process involves several key actions, including registering the company through our online platform, transferring any assets or licenses, and cancelling the sole trader ABN. Additionally, the company will have different reporting, tax, and legal obligations compared to a sole trader, and it's essential to be aware of these changes to maintain compliance with Australian Securities & Investments Commission (ASIC) requirements.
For further guidance, contact Namecorp’s Support and Compliance Team either by phone on 1300 006 263 or via email at support@namecorp.com.au.