• This topic is empty.
Viewing 8 posts - 1 through 8 (of 8 total)
  • Author
    Posts
  • #966369
    crichton269
    Member
    • Total posts: 3
    Up
    0
    ::

    Sorry guys – this is gonna sound like the dummest thing in the world but I need to get an ABN number – help

    #1017755
    Burgo
    Participant
    • Total posts: 2,104
    Up
    0
    ::

    Just log onto the Fairtrading site in the state you live in and register for an ABN. Should take you all of 5 minutes.
    Hope that helps.

    #1017756
    crichton269
    Member
    • Total posts: 3
    Up
    0
    ::

    hi burgo – thanks for the reply – i live in nsw like you too – Fairfield to be exact –
    I need to get one – Long term i want to be an on line solo trader buying and selling imported goods from China e.g mobile phones t.v’s and other electrical devices.However I need in the short term to attain an ABN asap asap to start a fund-raising campaign with my family selling Cadbury dairymilk chocolates which is very good profitably for a short term venture so I was hoping that a solo trader abn would suit this.As for my electrical devices venture I am told that I will need to start a business ABN and pay $1100 annually which is fine by me – but I am not ready for that yet – your thoughts ?

    #1017757
    Burgo
    Participant
    • Total posts: 2,104
    Up
    0
    ::

    business ABN and pay $1100 annually

    Thats a new one on me, an ABN is free to anyone who wishes to register even a business name or company name an ABN is free however once you have a PTY LTD company there is a gavernment body calles ASIC who want to take some money of you to register and trade annually but this is only around the two to three hundred dollar mark.

    I would get a second opinion however in case you are being ripped off.

    Talk to a Chartered Accountant, someone like ‘Fletcher Tax” they are very good.

    #1017758
    FionaFell
    Member
    • Total posts: 342
    Up
    0
    ::

    http://www.abr.gov.au : then follow the links to Register for an ABN.

    I am unsure what you would be paying $1100 or, maybe a ‘company structure’ with ACN.

    But as Burgo suggested, in his wisdom, talk to an accountant. Quickly.

    #1017759
    ResumesForResults
    Member
    • Total posts: 8
    Up
    0
    ::

    Most accountants will charge around the $1100 – $1300 mark to set up a company (Pty Ltd), the BAS is free though, with ongoing ASIC fees of $220 annually.

    #1017760
    FionaFell
    Member
    • Total posts: 342
    Up
    0
    ::
    ResumesForResults, post: 20487 wrote:
    Most accountants will charge around the $1100 – $1300 mark to set up a company (Pty Ltd), the BAS is free though, with ongoing ASIC fees of $220 annually.

    Thanks a lot for sorting this little extra cost out for me, and no doubt others reading this post.

    #1017761
    davdee
    Member
    • Total posts: 29
    Up
    0
    ::

    I am a sole trader and got an abn some years back.
    First thing is decide on a business name (that does not clash. Need not be your trading name, but can be used as a bounce off.)
    Register name with Dept Fair Trading (nsw govt). This is about $100 per year?
    I registered Huldah Consulting with Dept Fair Trading. I did this at their office at the beginning, but renewals are online.
    Once the paperwork came thru, I registered for an abn at business register site (from ATO federal). I did not do a gst as insufficient turnover. Get a PO box to keep your home from prying eyes.

    The cost is if you want a company, and that is were you need an expert.
    For sole trader, the income.etc just goes into your personal income tax.

    There are advant and disadvant, so get more advice on company structure.

    Good luck,

    Dave Errington
    Huldah Consulting

Viewing 8 posts - 1 through 8 (of 8 total)
  • You must be logged in to reply to this topic.