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In QLD you don’t need work cover for directors, only staff. Not sure on VIC.

Because of Personal Service legislation you will have to pay yourself PAYG on all money that comes into the company, so in essence the company should not make much of a profit/loss at the end of the year.. Depending on how much you are earning the ATO will decide how often you will have to report your payg.

BAS and IAS reporting is very simple and you should be able to do yourself. I’d definitely get an accountant to do your end of year reporting though.