Did you know as a business owner you are responsible for checking the ABN validity of a supplier before every single payment? Where the supplier doesn’t have an ABN or it’s no longer active, you must withhold PAYG at 47%.
In this bonus episode, we announce the release of a NEW compliance tool called the ABN & GST Checker - and share some important legislation information you should be familiar.
Access the NEW ABN & GST Checker Tool here: https://www.sixtyforty.io/abn-checker/
By building the ABN & GST Checking tool, we hope to make one step towards helping small business owners, their bookkeepers and advisors be compliant.
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RESOURCES
Access the ABN & GST Checker Tool here: https://www.sixtyforty.io/abn-checker/
ATO approved from 'Statement by Supplier for not quoting an ABN: https://www.ato.gov.au/forms/statement-by-a-supplier-not-quoting-an-abn/
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CREDITS
Host: Sheree Cusack
Everything Small Business is a podcast by sixty:forty
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