Is there an easy way to get an ABN and not use it.

[180degrees]

Ok so I was thinking about buying a 2012 DX navara and setting it up to be my weekend 4wd (so like 4inch lift, muds, winch ect) but nissan told me the best deal they could do for a private sale was $34k which is $2k more than the STR.... if however I had an ABN the guy was hinting at south of $30k so I was just wondering if anyone knew if there was an easy way to obtain an ABN or is it like if you apply for one you have to go through with a business and all that jazz?

 

[gadgets]

I think I just applied for mine and that was it.

 

[Geoff3DMN]

You can register an ABN for a business easily enough but if you don't show income against it then they will eventually cancel it.

I had a personal ABN registered (the business already had one) when I was thinking of selling our business. The sale didn't go through and I ended up not using the personal ABN.

But... after a couple of years I got a 'please show income for this ABN or we'll cancel it' letter.

I suspect registering one just to obtain a financial advantage might be against regulations however...

 

[Aussie Frontier]

To get an ABN you need to register a Business name and then apply for an ABN
I had a Business name of Wizard Injection (cost about $100) so was able to get an ABN.
However
It means you have to pay at least the first minimal rego period as Business Rego (well thats what happened to me in the ACT.
After the first rego period ( I was able to get 3 months )you can pay a small fee and then rego the car as personal use only and from then on your in the clear.

 

[Rumpig]

Can't be to hard, banks were doing it so people without jobs could say they were self employed and get home loans.

I salary packaged mine when i bought it and used the ABN of the company i worked for, saved about 7 grand on a STR.

http://www.ato.gov.au/businesses/content/15772.htm

 

[mitch92]

Ok so I was thinking about buying a 2012 DX navara and setting it up to be my weekend 4wd (so like 4inch lift, muds, winch ect) but nissan told me the best deal they could do for a private sale was $34k which is $2k more than the STR.... if however I had an ABN the guy was hinting at south of $30k so I was just wondering if anyone knew if there was an easy way to obtain an ABN or is it like if you apply for one you have to go through with a business and all that jazz?

I thought they only did str in D22 now??

Dx single cab?

 

[nathand22]

just register a biz name for $120 then contact ATO for an ABN and your done.
I never had to rego my utes with a business rego, the car yard's really dont give a crap about the rego because a business can buy a car but use it for 100% personal travel.

 

[KraftyPg]

No matter how you register it and what your state rules are registering an ABN just to get a cheaper car could end up costing you a lot more than you save if the ATO decide to follow it up. It's one thing to register an ABN (and it can be a personal ABN) and never use it but to use it only to gain discounts will eventually be caught up on.

Depending on how you do you tax and how the car is claimed after you get the ABN discount you could still end up paying because you don't log enough ks, or because you can't prove how business use v personal use. I would advise you to tread carefully if you tried such a thing.

 

[180degrees]

No matter how you register it and what your state rules are registering an ABN just to get a cheaper car could end up costing you a lot more than you save if the ATO decide to follow it up. It's one thing to register an ABN (and it can be a personal ABN) and never use it but to use it only to gain discounts will eventually be caught up on.

Depending on how you do you tax and how the car is claimed after you get the ABN discount you could still end up paying because you don't log enough ks, or because you can't prove how business use v personal use. I would advise you to tread carefully if you tried such a thing.

See thats what I was thinking, ATO are slimy bastards, thanks for the replies guys looks like I might do some research on this.

 

[KraftyPg]

Slimy for wanting to stop people registering an ABN just to get a discount. The BASTARDS!!

The real slimy bastards are the dealers who use any ABN to get people discounts, it's not as bad as it was a few years back when there was that 50% write off deal happening and dealers were so desperate to sell cars but there are still some out there who will write someone elses ABN on paperwork just to sell a car.

Tell your boss you want to be paid as a contractor, register a personal ABN, pay your own workcover, super and other insurances and then buy a new car. Your boss wins because his premiums go down, you get slightly more in your pay back (and loose it in paying for all those things bosses pay for) and you get a few grand off a new car. Win Win Win situation.

 

[Bungey]

The dealer requesting an ABN is not linked to your tax, this is just a promotion they have. They do check the ABN number to check it is legit Number but what you do tax wise after that is your call. We just did it recently. If you sell the vehicle then tax has to be paid. We used an ABN from a business not running, I could have used another I used for marking tests- any ABN in your name will be sufficient. As it stands now it just means a heavily discounted vehicle from the dealer, not tax related unless you use the vehicle as part of an official business then that is different.

 

[KraftyPg]

^ I was waiting for an answer like that.

While possible it's not entirely true.

For starters using an ABN is considered as getting a National Fleet Discount, i.e. ABN is supposed to prove that the car is used as a fleet vehicle not just a private vehicle, so the saving you get on purchase is not a tax saving and therefore no tax component to pay back if you sell the car.

It's true that claiming such a discount is not directly tax related but as the car is a fleet car they ATO can and may well check into how it is being used and if you can't prove it's business use you will be fined. Chances of getting caught may well be slim, and just like not having insurance it's a risk some people are willing to take. but you really need to talk to your accountant about the possible implications before you just jump on the words posted on a public forum.

 

[terryc]

Weird, if an ABN is such an advantage, $50pa misc income should keep it.
Although my income yo-yos now and I've had the ABN since year dot, never had a please explain. If you do a few FOs for cash or what, well work the basic effort of keeping logs books and receipts.

I would be interested if someone could explain the advantage of the ABN to the dealership. As far as I know, they still have to give 1/11 to the government, less the 1/11 part of "buying it.

 

[KraftyPg]

The ABN discount most dealerships talk about isn't about GST so the 1/11 you refer to which I assume is 10% GST means nothing. The GST is still paid unless the ABN is used to claim the GST portion which is different to the fleet discount and for that the ABN must be registered to claim GST. ABN for fleet discounting can be claimed without or without the GST exemption.

 

[jjohn]

I reg an ABN in my personal name. Cost nothing.

 

[-JOSH-]

When I bought my d22 there was only $200 difference between Abn and no Abn. Don't see why they would charge so much extra.

 

[180degrees]

^ I was waiting for an answer like that.

While possible it's not entirely true.

For starters using an ABN is considered as getting a National Fleet Discount, i.e. ABN is supposed to prove that the car is used as a fleet vehicle not just a private vehicle, so the saving you get on purchase is not a tax saving and therefore no tax component to pay back if you sell the car.

It's true that claiming such a discount is not directly tax related but as the car is a fleet car they ATO can and may well check into how it is being used and if you can't prove it's business use you will be fined. Chances of getting caught may well be slim, and just like not having insurance it's a risk some people are willing to take. but you really need to talk to your accountant about the possible implications before you just jump on the words posted on a public forum.

Yea I was thinking it can't be that simple, I might have a chat to an accountant or just buy a used one, trouble is I want a black one and people only ever buy em in white like 99% of hiluxes.

When I bought my d22 there was only $200 difference between Abn and no Abn. Don't see why they would charge so much extra.

The dealer claims Nissan subsidise them on STR's could be BS but thats why its only ~$500 difference in most places.

 

[KraftyPg]

ABN discounts vary dealer to dealer, try a few different dealers and see who's willing to offer a better deal. Sometimes you can get nearly as good of a deal just bargaining.

 

[180degrees]

yea thats what I was thinking, 10+ dealers around me, someone is bound to give me what i want.