The company I work for is buying an Australian owned company. I am aware that we will need an ABN and TFN, but if the company we are buying already has an ABN, what are the steps we need to do as the company in the U.S.? Do we need to acquire one for us specifically or can we use the one that they have? Thanks for the help.
Hello @Guy3434,
This will depend on what type of acquisition you are doing. If you are just buying the assets then you may need to look further into your ATO tax obligations. If you are obtaining controlling share and then keeping the company running exactly as it was then you should be fine to continue you using the companies ABN for its interactions. This is something you should discuss with the seller of the business and if taking on the entire company you should make sure that all updates of directorship should be updated across all registries at the appropriate time of takeover. Also when obtaining the company if you change the directors you will need to guide your new directors to meet their director id obligations.
If you're not aware, ASIC regulates companies here in Australia and they may be able to provide you with further advice.
Hello @Guy3434,
This will depend on what type of acquisition you are doing. If you are just buying the assets then you may need to look further into your ATO tax obligations. If you are obtaining controlling share and then keeping the company running exactly as it was then you should be fine to continue you using the companies ABN for its interactions. This is something you should discuss with the seller of the business and if taking on the entire company you should make sure that all updates of directorship should be updated across all registries at the appropriate time of takeover. Also when obtaining the company if you change the directors you will need to guide your new directors to meet their director id obligations.
If you're not aware, ASIC regulates companies here in Australia and they may be able to provide you with further advice.
2 Dec 2025 · 6 min read time
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