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Cancelled acn abn

Newbie

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Hi All, I have a silly question. I had a active ACN which got canceled on 2017 (due to not activity) cancels by ASIC.

 

The company only traded for four years and lodgements where made in the four years. The company number was still open and not trading, do I need to lodge a tax return for inactive years ? Even though the ABN / ACN closed 

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ATO Certified Response

ATO Community Support

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Hi @Johann84,

 

Essentially, if an ACN/ABN is still registered as active, even if you ceased earning reportable income through the business, then you're required to lodge a tax return (even if there was zero income).

 

So in this case, if you stopped conducting business through the ACN/ABN, and met all of the lodgement, reporting and payment obligations on your end, but the company remained 'active' for a while before being cancelled by ASIC, then technically, returns would be expected.

 

However you may be able to request for the cancellation be further back-dated to represent when your business reporting obligations ended. To do this you'll need to contact us directly and speak with the business line Smiley Happy

 

RachATO

1 REPLY 1

Most helpful response

ATO Certified Response

ATO Community Support

Replies 0

Hi @Johann84,

 

Essentially, if an ACN/ABN is still registered as active, even if you ceased earning reportable income through the business, then you're required to lodge a tax return (even if there was zero income).

 

So in this case, if you stopped conducting business through the ACN/ABN, and met all of the lodgement, reporting and payment obligations on your end, but the company remained 'active' for a while before being cancelled by ASIC, then technically, returns would be expected.

 

However you may be able to request for the cancellation be further back-dated to represent when your business reporting obligations ended. To do this you'll need to contact us directly and speak with the business line Smiley Happy

 

RachATO