The first in the series of Simple Mistakes looks at ACN/ABN and company documentation:
Is your Australian business incorporated via ASIC? If so your company must operate by the rules determined in the Corporations Act 2001.
Are your company documents correct?
The Act (s153) requires that a company sets out its name on all public documents along with the company’s ACN (Australian Company Number) or ABN (Australian Business Number) – for a two page or more document the above information must be shown on the first page.
Is your ABN displayed?
All businesses with ABNs
Make sure that your ABN is clearly displayed on your invoices to customers to avoid a withholding tax deduction from your incoming payment.
Compliance Essentials can assist with all your business compliance requirements, contact us on 1300 602 880 or via our website