February 14, 2019 at 6:39 pm #1218843
- Total posts: 712
There is lots of information on the government business websites, and it is easy to understand. Start here: https://www.business.gov.au/guide/starting
- If you are going to trade under any words other than your full name only then you will need to register the business name.
- Getting an ABN is free and allows you to buy a .com.au domain name
- If you are planning to make a profit from the sale of your goods, even a tiny one then you are a business not a hobby
- I would suggest getting product liability insurance but it is not essential. Are you willing to risk it? If you start going to local markets as a way to test your market and advertise you will need market insurance anyway and can get product liability at the same time.
- Once you get going and have regular sales then I would suggest that you get registered for GST even if you are not making much money. It means that you will be able to claim back the GST that you paid on the materials to make your pet toys, and the paperwork is really small and not hard.
- Get an accountant, and ask your questions to get the right advice. The cost of your appointment will be worth it if you are unsure of your tax stuff.