IPEd's ABN submission
Posted on: 09 October 2018
In response to the Treasury consultation paper Tackling the Black Economy: Designing a modern Australian Business Number system, IPEd has made a formal submission.
Some of the federal government’s options outlined in this paper have caused great concern to many of our members – particularly a possible requirement that all ABN holders be registered for GST, regardless of their annual turnover. IPEd’s submission points out that this measure could have serious detrimental effects on many freelance editors, threatening their businesses and preventing them from earning anything like a reasonable living.
Our submission also addressed two other points, namely the issue of individuals with an ABN fraudulently claiming GST input tax credits and the proposal for ABN holders being required to renew their ABNs. IPEd put forward alternative solutions for both these cases.