Can my ABN be terminated without impacting my account?

[Z999]

I have set up my account with my existing ABN. I'm retired and my current and foreseeable income is below tax level. Will there a problem with my Square account if my ABN is terminated? My ABN is for an Individual/Sole Trader and not registered for GST.

[Seamus]

Hey @Z999,

Thanks for getting in touch! As long as you don't take any further payments with the Square account this won't impact anything!

Because an ABN is tied to a Square account permanently, if you plan to continue taking payments without an ABN in the future (eg as a sole trader hobby business without an ABN) then you would need to create a new Square account and leave the ABN field blank.

Hope this helps, let me know if you have any questions 🙂