Implementation study on single business identifier
The Minister for Small Business and Assistant Treasurer, the Hon Kelly O’Dwyer MP, announced an implementation study will be undertaken on the ‘single business identifier’. This measure was announced in the 2015-16 Budget’s Growing Jobs and Small Business Package, for Australian Company Numbers (ACNs) and Business Tax File Numbers (BFTNs) to be replaced with just the Australian Business Number (ABN).
Advantages to Incorporating Your Business
Owning a small business can be a risky venture. One way to limit your personal liability is by incorporating your business. Incorporation may require more paperwork and expense than a sole proprietorship or a Partnership, it offers important legal and tax advantages.
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