The accuracy of the content is not guaranteed. Please rely only on the authorised document. With the number of businesses registered for the new tax system exceeding even the highest expectations, Tax Commissioner Michael Carmody today said the registration of Australian business for ABN and GST has been a resounding success. "We've issued ABNs to more than 97 per cent of the 2,862,734 businesses that have applied, including those that applied late, after 31 May," Mr Carmody said. "This is a great achievement in its own right and by international comparison. In Canada, for example, approximately 65 per cent of businesses (around 1.1 million) were registered as their GST began operating on 1 January 1991. In total, the Tax Office has issued 2,772,454 ABNs. We have issued 342,636 ABNs to the 385,043 business that have applied since 1 June. We will turnaround the remaining post 31 May applications, around 42,000, as soon as possible. More than 1,900,000 Australian businesses are registered or have indicated they will register for GST. "We have issued or actioned all 2,477,691 applications received by 31 May. We are awaiting further information before finalising less than 8,000 (0.3 per cent) of these. My office has followed up each of these applications," Mr Carmody said. "As announced earlier this week, the small number of business that have applied but may not receive their ABN by 1 July will be covered by the receipt of safety net letters, which we are issuing now. "The safety net letters provide authority for recipients to operate under the new tax system as if they had received their ABN, for the period 1 July to 31 July inclusive. "I urge any business that still has not applied for ABN to do so as soon as possible. We have already made the offer of a safety net for any business in this category. "If they contact us and provide proof of their identity we will issue them with a safety net letter overnight on the condition that they forward a full ABN application to us immediately," Mr Carmody said. CANBERRA
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