An ABN is a distinct 11-digit number that serves as your company’s identification to the government and other companies. Although having an ABN is not required, it is required if you want to register for the Goods and Services Tax (GST) or if your business generates more than $75,000 in annual revenue. If you have an ABN, you may use it to register a domain name for your company, which can help build trust and develop a credible online presence.
The price of registering a domain name in Australia can vary depending on the registrar you use and the domain extension you select (.com.au,.net.au,.org.au, etc.). A domain name will typically cost you between $10 and $50 a year. Longer registration terms and bulk domain name purchases are both eligible for discounts from several registrars.
You must pay tax on any revenue derived from your website if you hold an ABN and use the domain name for commercial purposes. Your business structure (sole proprietorship, partnership, company, etc.) and income will affect how much tax you owe. To assess your tax liabilities, it is advised that you speak with a tax expert.
The process of registering a company name is distinct from that of registering a domain name. You must register a business name with the Australian Securities and Investments Commission (ASIC) if you are conducting business under a name other than your own. A business name can be registered for $37 for a year or $87 for three years.
In conclusion, even though an ABN is not required to register a domain name in Australia, it is advised if you want to use the domain name for commercial endeavors. Although the price to register a domain name can vary, you should typically budget between $10 and $50 annually. When operating a business under a name other than your own, you must register a business name with ASIC, and if you have an ABN, you must pay tax on any money made from your website.