1 ABN, 2 business names?

[nique]

Hi everyone,
I currently have 2 small business names registered, I have one ABN number for the first small business which im hoping to expand soon & a second business name that i've not used,I sell the same products for both.
The second business name is not linked up to my ABN and this second business would be more of a hobby earning under $5000 a year.

My questions are do i need to register a second ABN number even though im selling the same porducts? If not how do i go with tax receipts to my customers from the second business as my ABN is registered to my other business name? Can i reference my second business somehow to my ABN on the Tax receipt?

Hope this makes sense as this is all new to me and a little confusing.

[peppie]

A bit of common misconception and one which I fell for some time back. Even a business course I did was not aware of the difference for a solo trader.

If you work solo the ABN you have is linked to your name first and not your business name. The ATO regards you as the entity and your business name/s is one or more of your identities.

If your were working under a company structure the company is the entity and thus has it's own ABN. Which is totally separate from any ABN you may personally have.

If you go to the ATO site and you search for an ABN you should find it listed against your name and your trading/business name as well. You an also register any other business names against the same ABN and a search would show all of them under the same ABN.

I know this to be the case because I have 2 business names and only one ABN for both.

[Numberz]

In fact if you operate both businesses as a sole trader you wouldn't be able to register a new ABN because, as peppie says, it is linked to you as an individual, not the business.

There have been threads on this subject before so you could use the search box on the right to see other responses......

Cheers

[EFTPOSCO]

Depending how big your other small business is, it may benefit you to register company. This company can then t/as Trade As either business name or both, this way there are a few tax benefits. Best to consult an accountant for this however.