Does my client need an ABN for their trust?
ABNs are not compulsory. There are, however, many benefits to having one. For example, an ABN will help you:
- in dealing with other businesses when purchasing goods and services or when supplying goods or services to them; or when
- in dealing with the ATO and other government agencies.
If you are going to register for GST, you will need an ABN.
If you are not sure whether to apply for an ABN for your trust, this ATO video may help. Otherwise, you should seek professional advice.