How do I register with the Australian Taxation Office? How do I register with the Australian Taxation Office? How do I register with the Australian Taxation Office?

How do I register with the Australian Taxation Office?

SMSF

Saxo Markets

Summary:  Once your SMSF trust deed is established and signed, trustees can apply for an Australian Business Number and tax file number when they register the SMSF with the Australian Taxation Office (ATO). This must occur within 60 days of the SMSF being established.


The ATO says that, when you register your SMSF and apply for an ABN, you should:

  • Ask for a tax file number (TFN) for your fund;
  • Elect for your fund to be an ATO-regulated SMSF. If you don't, your fund will not receive tax concessions and the members’ employers can't claim deductions for contributions; and
  • Register for GST (if annual GST turnover is more than $75,000).

New SMSF applicants will not have an existing ABN or TFN, and must apply for both.

Applicants must also supply the following details:

  • The name of the SMSF
  • The date the SMSF came into existence
  • At least one business address for the SMSF
  • Your SMSF’s electronic service address (ESA) alias
  • Authorised contact details
  • Associate details (individual trustees, corporate trustee, members, and directors of a corporate trustee)

Your SMSF’s details will then be included in ABN lookup and Super Fund Lookup. Once registered, you will also be required to establish a bank account in the name of the fund for members’ super payments (such as rollovers and contributions). Account details must then be supplied to the ATO.

A tax professional can carry out this registration process on your behalf, if requested.

Begin the application process on the Australian Business Register website here: https://www.abr.gov.au/business-super-funds-charities/applying-abn

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