Additional ANZSIC Code Recording Against an ABN
ATO changes make it easier for businesses to record the suite of their operations
The ATO have recently announced a major change to the number of Australian and New Zealand Standard Industrial Classification (ANZSIC) codes that can be recorded against an ABN. Business owners can now enter up to four (4) ANZSIC codes on their ABN registration, in addition to the main business activity.
This is a meaningful change by the ATO and will enable businesses to better record the full suite and diversity of their business operations. A winery is a great example of how this change will benefit the recording of business activities. Take the following as an example:
They grow grapes = Grape Growing
Produce the wine = Beverage Manufacturing
Have an onsite cafe or restaurant = Cafes & Restaurants; and
Have onsite accommodation = Accommodation
These changes will make it easier to better understand the businesses in Council areas and regions over time.
The change will affect how codes are recorded in Monitor CRMS, so we're developing plans on how to manage the various codes in the most effective way possible that enables you to better understand and engage with your businesses.
Read more about the ATO changes below.