12 Jul 13 More on ABN delays
MEMBER 138 writes:
"Member 122 - see 2013 TAXVINE No 22 - complained of the stupidity and lack of urgency attaching to the issue of ABNs and their appearance on the website.
I have a client who, wishing to acquire a substantial business with 30 employees, and over 300 customer clients and wanted to take over on 1 July.
I applied for an ABN, TFN and group employer PAYG registration on 15 May.
Being a good and patient accountant, I waited until 10 June to check if an ABN had issued. No it had not, nor had the TFN.
My client wanted to have a bank account opened when he commenced on 1 July.
He needed finance approved and paid to the previous owner prior to 1 July. The bank and finance provider want an ABN prior to settlement.
Because I stated on the ABN application that business would commence on 1 July, the ATO stated that they would not process and advise of the registrations until 1 July. Who in God's name hired the policy guru that dictated this policy?