Track mileage automatically
Get startedACN (Australian Company Number)
If you're planning to establish a company in Australia you will need an Australian Company Number (ACN). In this article, we look at what an Australian Company Number is, who needs it, and guide you through the process of obtaining it.
What is an Australian Company Number?
If you decide to structure your business as a company, you will need an Australian Company Number. This requirement applies to all companies registered with the Australian Securities and Investments Commission (ASIC).
The Australian Company Number (ACN) is a unique nine-digit number assigned to registered companies operating in Australia. It serves as a key identifier and plays a vital role in various processes, including financial reporting, legal proceedings and tax matters. An ACN also facilitates various business transactions, such as opening business bank accounts, entering contracts, and engaging in financial activities.
Are you wondering if you did your business KM log book properly? With Driversnote as your logbook app your trips are automatically logged, just the way the ATO likes it.
Kilometre tracking made easy
Trusted by millions of drivers
Automate your logbook Automate your logbookAutomatic mileage tracking and ATO-compliant reporting.
Get started for free Get started for freeHow to get an Australian Company Number
The process of obtaining an Australian Company Number (ACN) involves the following steps:
1. Determine your company name and structure
Before applying for an ACN, decide on the name and structure of your company. The name must not already be registered with another company. You can use the ASIC website tool for check if your chosen company name is available. The structure for your company can be a proprietary limited company, public company, or another suitable structure.
2. Register your company with ASIC
Visit the (ASIC) website and follow the registration process. Provide the necessary details, including the company name, structure, shareholders, and directors.
3. ACN Allocation
Once your company registration is processed, ASIC will allocate an ACN to your company. The ACN will be included in your company's registration documents.
Is there a fee associated with registering for an ACN?
Note that you wil incur a fee when registering your company and obtaining an Australian Company Number. The fee depends on the type of company structure you’ve chosen and the teritorry in which you’re registering the entity.
How to display your ACN on documents
Your company’s Australian Company Number must appear on the first page of documents, and must be clear, eligible, and obvious that it belongs to your company. Your ACN should appear on all official documents, such as those lodged with ASIC, orders for goods and services, business letterheads, official company notices, cheques and bills of exchange, account statements and invoices, written advertisements making a specific offer, and non-machine produced receipts.
You don’t need to include your company’s ACN on any packaging or labelling, advertisements not making a specific offer, credit cards and credit card vouchers, machine-generated receipts and business cards.
FAQ
Tired of logging mileage by hand?
Effortless. ATO-compliant. Liberating.
Related posts
ATO Mileage Guide
25 June 2024 - 5 min read
Learn about the rules of reimbursing employees for their car expenses or deducting expenses as an employee or self-employed individual.
Claiming Tolls on Your Tax Return
1 October 2024 - 2 min read
If you incur toll expenses during work, you may be eligible to claim these as a deduction. Here is our guide to claiming tolls on tax.
Guide to Small Business Tax Deductions
19 September 2024 - 5 min read
Discover the most common small business tax deductions, tips, and best practices to ensure your business is as tax-efficient as possible.