Home Forums Starting your journey What else do I need/confused about basics

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  • #971036
    PinkTink
    Member
    • Total posts: 13

    My business is an online shop selling products imported from overseas. I am also have sold some products wholesale to a re-seller. I am the sole trader.

    Im confused about the set up.

    I have got the business name registered with the department of fair trading.

    I have the domain name.

    In a previous business I had an ABN.

    Do I need a new ABN? Because this is a new business? Do I need a business tax file number?

    Im concerned I may not have all the elements set up correctly.

    thanks

    Pinky

    #1047407
    exstatic
    Member
    • Total posts: 335

    It’s best to chat with an accountant about this stuff, but as far as I am aware if the ABN is a sole trader ABN and it is only you working in the business then you ‘should’ be able to use that same ABN.

    #1047408
    Netorigin
    Member
    • Total posts: 421
    PinkTink, post: 58078 wrote:
    My business is an online shop selling products imported from overseas. I am also have sold some products wholesale to a re-seller. I am the sole trader.

    Im confused about the set up.

    I have got the business name registered with the department of fair trading.

    I have the domain name.

    In a previous business I had an ABN.

    Do I need a new ABN? Because this is a new business? Do I need a business tax file number?

    Im concerned I may not have all the elements set up correctly.

    thanks

    Pinky

    You can use the same ABN. You just need to call up the ABR to get your registered business name listed as a trading name on your ABN. If you are unsure, call the ABR and ATO for further advice.

    #1047409
    PinkTink
    Member
    • Total posts: 13

    Thanks NO :0)

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