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  • #973123
    thanhdao
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    • Total posts: 15
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    i would like to open a business but not actually start yet…I just wondering that do I have to pay any tax for just register a ABN for my business? are there any fees for register a business

    #1059859
    tahera
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    • Total posts: 20
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    Hello,
    for starting a business you need a lot to do.
    1- register your business name
    2- get ABN does not have tax to pay
    3- make a website
    4- have a place
    5- if you are opening an accounting business make sure before you do any thing to register for license with ATO (ABS agent/tax agent license)

    for further information visit my website, i am setting up business, you might get more clue there.
    good luck

    #1059860
    tahera
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    sorry missed to answer your query about cost….to register your business name with Office of fair trading, you have to pay for business name registration $150.
    ABN cost nothing…..

    #1059861
    Rball
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    • Total posts: 136
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    What about goods and services tax?

    #1059862
    thanhdao
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    • Total posts: 15
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    tahera, post: 73835 wrote:
    sorry missed to answer your query about cost….to register your business name with Office of fair trading, you have to pay for business name registration $150.
    ABN cost nothing…..

    thanks a lot… that is very useful…

    #1059863
    VehicleMods
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    • Total posts: 124
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    Rball, post: 73848 wrote:
    What about goods and services tax?

    If you are going to sell around $70k p.a. you must register for GST. It is free and you can don it on line at the ATO web site.

    #1059864
    Shard
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    • Total posts: 4
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    Hi Guys,
    It’s a misconception if you think you must register for GST only when your turnover increases $75k, No. But you can register for GST before that as well. If you register for GST you can claim the tax you incurred in your input,in other words when you buy a product or service you would have paid GST on that sales and you can get a refund of GST you paid on them or offset with the GST you charged to your customers.

    Cheers;
    Shard.
    Bsc (Accounting),Certified Bookkeeper,
    Bas Agent,MYOB certified consultant.
    Email- [email protected]

    #1059865
    VehicleMods
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    • Total posts: 124
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    Rball, post: 73848 wrote:
    What about goods and services tax?

    When you register your ABN, you are asked if you want to register for GST. If you say no, you can still do it later. There is no cost.

    The things that cost are:
    1. Business name (varies state by state)
    2. Domain name (you need a business name and ABN to register a .au name) I paid about $40
    3. Company registration if your adviser suggests you have this structure.

    Make sure you have a viable business if you elect to establish a company as you are committing to a fair few annual costs (annual company returns, Company registration, additional accounting fees). Closing a company is not simple costs money and you are stuck with the annual costs until you do. Once you have a business name, you can transfer it to your company if you go that way later.

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