When you own a business, you need to have an ABN (Australian Business Number). However, if you decide to register a company, you will also need an ACN (Australian Company Number). If you are thinking about going into business or registering a company, it is important that you know the difference.

What is an ABN?

Anybody who engages in business in Australia requires an ABN. An ABN is an 11-digit number which is used for dealings with the Australian Taxation Office and other entities. All entities (regardless of size) are issued with an ABN.

What is an ACN?

An ACN is a 9-digit number which is issued by ASIC (Australian Securities and Investments Commission) to businesses that wish to register as a company. ACN acts as an identifier for ASIC for monitoring company activities and ensures the public that they are dealing with a limited company. A company’s ABN will include their ACN, plus an extra two digits.