I’ve decided to close my business as I’m not making much money and it’s started to take away time that I’d rather spend with my new family. I’ve looked at a bunch of resources online and spoken to my accountant as well. He’s charged me 500AUD to do all the paperwork. I don’t want to be spending anymore on this venture so I would like to do everything myself as much as I can. Is there a way I can close my business to avoid paying next years business rego fees? My tax returns for last year have already been lodged. Can I lodge the tax returns for this financial year even also closing the business?
Or, I sometimes consult online with business experts. [Mod Edit To Remove Promotional Content] Closing a business is always unpleasant. But on the other hand, if it does not bring you profit for a long time, then why do you need it? In the end, you can always open a new business and start all over again, perhaps even with better success. But believe me, if you open a new business, I highly recommend using various consultants and business experts. After all, the idea and business plan is the most important thing that will bring you profit.