A New Tax System (Australian Business Number) Act 1999

The A New Tax System (Australian Business Number) Act 1999 is an Australian law that aims to make it easier for businesses to conduct their dealings with the Australian Government by establishing a system for registering businesses and issuing unique identifying numbers. The main object of this Act includes making it easier for businesses to identify themselves reliably in all their dealings with the Australian Government, reducing the number of government registration and reporting requirements, and allowing multi-agency dealings. This Act binds the Crown in each of its capacities but does not make the Crown liable to be prosecuted for an offence.

The law applies to a wide range of entities, including government entities, non-profit sub-entities, superannuation funds, and certain RSE licensees. Businesses can apply for registration by submitting an application in the approved form, providing relevant information such as their name, address, and tax file number. If the application is successful, the business will be allocated a unique Australian Business Number (ABN) and entered into the Australian Business Register.

Entities that are registered under this Act must notify the Registrar of changes to matters set out in the Register within 28 days after becoming aware of the change. The Registrar may request entities to provide information or documents, which must be lodged with the Registrar. Failure to comply with these obligations is considered an offence against section 8C of the Taxation Administration Act 1953.

The law also includes provisions for variation and cancellation of registration, reviewable ABN decisions, and offences related to non-compliance with obligations. The A New Tax System (Australian Business Number) Act 1999 aims to simplify business dealings with the Australian Government by providing a reliable and efficient system for registering businesses and issuing unique identifying numbers.