Annual ABN renewals proposed
As part of the Governments tackling the cash economy the Governments enquiry into the Black Economy Taskforce, has recommended proposals for reforming the current ABN registration system. It has been recommended to the Government that it needs to focus on those businesses using the ABN for false activities under the Black economy. Part of the proposed aim will be the annual renewal of businesses of their ABN together with a proposed small fee. Let’s hope it is not seen as a revenue raising by the Government and does what it is proposed to do.