What Do I.Get Taxed When I Sell My Stock Shares Australian Wholesalers – Do You Really Need An ABN To Buy From Wholesalers In Australia?

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Australian Wholesalers – Do You Really Need An ABN To Buy From Wholesalers In Australia?

One of the most common questions I get is do you need an ABN (Australian Business Number) to buy from Australian wholesalers?

The answer is yes, you need an ABN to buy from most genuine Australian wholesalers. Some may also require you to have a registered business or company name. A few genuine wholesalers will sell to people who don’t have an ABN, but these are few and far between and usually don’t have particularly popular items. Don’t worry though, keep reading and you’ll learn how anyone can easily meet these requirements for little or no cost!

Why don’t they sell to people without an ABN?

The wholesaler uses the potential customer’s ABN to confirm their business identity – to help ensure that they are indeed a business customer and not just an end consumer (general public) trying to get discounted goods. This is why some Australian wholesalers prefer to only deal with people who have a registered business name (although many do not require this).

The job of Australian wholesalers is to sell to Australian retailers… NOT to the end customer or the general public. If wholesalers start selling products to end customers bypassing retailers, they would not only make the retailers very angry, but also probably lose a lot of valuable retail customers/stores. They are essentially cutting/stealing market share from retailers – not a good business move.

Some wholesalers/distributors, especially sellers of popular branded products, also want to ensure that their products are only sourced from reputable wholesalers who they believe are “of a sufficiently high standard”. By ensuring that they only sell to people who meet certain minimum requirements – namely an ABN and most likely a company name – they help ensure that their product is only available in what they consider to be quality outlets.

If anyone tries to tell you that you don’t need an ABN to buy from an Australian wholesaler listed on their wholesaler list, alarm bells should go off. Either they are not telling the truth or most of their so called wholesalers are nothing more than discount retailers.

Isn’t it expensive and difficult to get an ABN?

No, anyone who is Australian resident for tax purposes can apply for an ABN for free – you don’t need any registration other than your tax case number to be eligible for an ABN. You can apply online at the ATO (Australian Tax Office) website www.ato.gov.au or by calling them on the phone.

A business name costs a bit more, but in most states it can be registered for no more than $100-$200. For most types of retail business in Australia you will find that you do not need any special licences, however it is a good idea to check the licensing rules in your state before registering your business name. You can find out more about ABNs, business names and licensing requirements on the Australian Government website, www.business.gov.au.

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