ABN Entitlement

Question

ABN Entitlement

 · Accepted Answer

Bruce4Tax · Answer

I have set up a Family Trust with a corporate trustee. The trust manage investment assets for the benefit of the family members. Does the trust need an ABN. Are the activities considered to be 'carrying on a business'? Investment trust is not a business, so ABN not appropriate. Then does the corporate trustee require an ABN? Trustee needs a TFN, else you will not get the TFN for trust, but not an ABN because trustee is not carrying on a business.

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