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zengmaster, post: 207852 wrote:
Hi All,

I am new here, nice to meet everyone.

I have a quick question, If business structure changes from Soletrader to Company, can the same ABN be used or will a new ABN and ACN be required.

Generally speaking how much more expensive is it to maintain a company registration in comparison to soletrader in NSW on an annual basis.

Much thanks,

Hi zengmaster

The answer is no, you will need a new ABN. When you incorporate the company you will be provided with an ACN.

Generally speaking, other than the “capital” start-up costs of registration, not much more – annual ASIC cost is around $245, tax compliance and financial account preparation won’t cost you much more than what you are already paying for a business tax return, the only thing that changes in that regard (which may increase the cost marginally) is the actual tax return which is prepared.