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MA Accounting
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gardiye, post: 79031 wrote:
Thanks Mena, so in my case I can’t simply put down 2 applicants in the business registration form? both needs to be attached to an ABN in order to put in the business name registration?

We have done bit of market testing and don’t think our business will take off as soon as we start. However we have a good potential of building up to a good level in few months/ years time. So would it be better to start it simple and consider the right structure once we are confident with the business?

Yeah thats correct, you would need to create an ABN for a partnership for those two applicants then use that ABN.

I’d agree with you there, if you feel it will take some time before things will take off then keep it simple. I’d suggest at first sight of business improving though you look at improving your structure, its something you want to have in place before your business grows substantially.