Viewing 8 posts - 1 through 8 (of 8 total)
  • Profile photo of steve3556steve3556
    Member
    @steve3556
    Join Date: 2004
    Post Count: 40

    Hello All

    I am trying to get a trade account at the local hardware and they tell me l need a business card with an ABN number.

    Am l risking the wrath of the Tax Trolls for trying to swing a 20% discount on reno materials??

    Steve

    Profile photo of diclemdiclem
    Member
    @diclem
    Join Date: 2003
    Post Count: 537

    Hi Steve,
    20% discount sounds pretty good…I have an ABN and I sure don’t get that kind of discount!
    You may find that if you frequent the same store often, you can haggle them for a discount. Get a quote from another business and ask them to better it…..
    If you’re planning to do a few renos you might want to get an ABN anyway, as you may need to register for GST…..
    Anyway, good luck with it all,
    Sue [biggrin]

    “Be careful not to step on the flowers when you’re reaching for the stars”

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    Anyone can apply for an ABN over the internet. It is very easy to do and only takes 10 min. see http://www.abr.business.gov.au/(lhwlkv45qmulu4zxxlmp0mee)/content.aspx?page=abnapplication

    Terryw
    Discover Home Loans
    Mortgage Broker
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of steve3556steve3556
    Member
    @steve3556
    Join Date: 2004
    Post Count: 40

    Thanks guys, I will dial up the ATO now

    Steve

    Profile photo of maximusmaximus
    Member
    @maximus
    Join Date: 2003
    Post Count: 189

    Realize this is an old thread, please excuse.

    Was talking to someone recently (also interested in property investing) who mentioned to me that they were advised by a mortgage broker to get an ABN to tie in with their property investing. I was having a think and was wondering what the benefits are (also negatives). Can it help future loan applications?Do you need to actually register a business name when applying? Any info appreciated

    Profile photo of woodsmanwoodsman
    Member
    @woodsman
    Join Date: 2004
    Post Count: 714

    Maximus,

    I think they might be referring to low-doc loans, which require an ABN

    https://www.propertyinvesting.com/forum/topic/6467.html?SearchTerms=low-doc,and,ABN

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    Yes, having held an ABN for 2 years or more will help greatly in obtaining a low doc loan.

    Terryw
    Discover Home Loans
    Mortgage Broker
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of RedhavenRedhaven
    Member
    @redhaven
    Join Date: 2004
    Post Count: 81

    You amaze me Terry with what you know. I am sure others think the same as I do!

    Redhaven.

    “I alone know the plans I have for you, plans to bring you prosperity and not disaster, plans to bring about the future you hope for.” ~ GOD ~ (Jeremiah 29:11)

Viewing 8 posts - 1 through 8 (of 8 total)

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