To retain your ABN there has to be evidence of specific activities that entitle you to retain your ABN.
• Are you operating to make a return and maintaining records. Do you keep organised records and operate in a regular and consistent manner?
• Are you a business or an employee?
• When completing your income tax return do you declare income at the business labels correctly?
Failure of one or more of the above could result in your ABN cancellation. You will be issued a letter outlining the reasons for your deregistration or you can review your status at the ABN lookup to ensure that you are still current.
It is important to update your information within 28 day especially if you have changed your address.
If you are no longer entitled to an ABN it is important that you cancel it.