A New Tax System (Australian Business Number) Act 1999
In plain English
This Act establishes the Australian Business Number (ABN) system for identifying businesses.
The A New Tax System (Australian Business Number) Act 1999 creates a system for assigning ABNs. Businesses, individuals, and other entities need an ABN to operate. It helps with tax administration and simplifies business dealings. The Act came into force in 1999.
Why it matters
Having an ABN is often a legal requirement to operate a business in Australia. It's needed for GST, invoicing, and other business activities. Ensure your business complies with ABN requirements.
AI-assisted summary, grounded in the source link below. Generated 2026-05-23 via gemma3:12b.
Summary
Establishes ABN regime. Entities carrying on an enterprise must have an ABN. Without ABN, payer must withhold 47% PAYG.
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Source: https://www.legislation.gov.au/C2004A00451/latest. Rules Mate summarises and links; we don't republish full statutory text. Always verify against the live source before acting.