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Paul – FS Concierge
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k1k1, post: 245473, member: 93830 wrote:
I currently have 2 ABNs, one is a family trust, and the other is a sole trader.

I contract for 2 or 3 companies and have been using the trust ABN to invoice and have been meeting the 80/20 rule and hence have been able to distribute money to family members.

I may be losing the contracts for the other 2 companies soon and I may then only have one income source. Is it possible to “stop” using the Trust ABN and switch to using the Sole trader ABN if and when this happens? If not, I will have to find another company to contract work out to to satisfy the 80/20 rule and continue to invoice with the Trust ABN.
Hi And Welcome to the Forums. It is great to have you!

Thank you for joining Flying Solo and posting today.

Hopefully some helpful members will be along soon with some on-point advice.

Cheers