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Hello! Do i need to pay ABN tax if I earned less than 5000 as a sole trader?

Newbie

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Replies 1

Following the information in the internet I found that if I earned (through my ABN) between $0 and $18000, my tax rate ends up being  Nill, is this correct? I earned less than 5000 in this fiscal year, should I forget about this and just unsubscribe my ABN number (since I am not using it anymore)

 

Huge thanks!!

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Most helpful response

Former Community Support

Replies 0

Hi @rosesagustin,

 

You will need to complete your tax lodgement for this year, and after that you can contact us to cancel your ABN.

 

If you decide later down the line you can always reactivate your ABN.

 

Hope this helps!

1 REPLY 1

Most helpful response

Former Community Support

Replies 0

Hi @rosesagustin,

 

You will need to complete your tax lodgement for this year, and after that you can contact us to cancel your ABN.

 

If you decide later down the line you can always reactivate your ABN.

 

Hope this helps!