Can you have more than 1 ABN?
Answer:
A company is a seperate legal entity and could probably keep its ABN. You would have to transfer the shares to your name (ie. take over ownership of the company).
You would need to speak to your accountant or a commercial/business lawyer about whether you would be able to recoup the loss, there are rules for companies that may NOT allow the loss to carry forward due to change of ownership. It's a bit more complicated than this, and depends on your and the comanies specific circumstances, so see an accountant and get specific advice, you might be better off with another structure altogether (trust, partnership etc)..
Good luck with the new business.
Start afresh. Do not inheret the dept.
As far as I'm aware you can have a seperate ABN for each business. We had to change ABNs when one of the partners dropped out, but rules and regulations change all the time this may not apply now. Best check with the Tax Dept. they have a special number for enquiries and are really helpful, not like the Tax Dept. of old.
shore..
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