Do you need an ABN for a sporting team/motorsport team if sponsors are providing money in exchange for advertising? Is an ABN required for the sponsors to claim the sponsorship?
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Hi @Marshall
An ABN isn't compulsory unless you have to register for GST. The same applies to sponsors. It's free to apply and can make things easier like keeping track of transactions. If your sponsors are looking to claim sponsorship as a deduction, they can check if they can claim it as advertising expenses.
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Hi @Marshall
An ABN isn't compulsory unless you have to register for GST. The same applies to sponsors. It's free to apply and can make things easier like keeping track of transactions. If your sponsors are looking to claim sponsorship as a deduction, they can check if they can claim it as advertising expenses.