Keeping track of and paying tax is an important factor to consider in your business. How you lodge your taxes will depend upon your business structure. Check Requirements For Your Structure Your business needs to file taxes each year, even if you don’t meet the tax threshold or you record a loss. When you […]
13
Aug
Aug
Each Australian state or territory has its own specific laws and regulations that you’ll need to follow in order to successfully start and run your business. Place of Business Each state or territory will have its own specific regulations about your principal place of business, whether at home or in an office. It’s important […]
12
Aug
Aug
There are certain record-keeping requirements when you have a business that are mandated by the Corporations Act 2001. If you don’t comply with these record-keeping requirements you can be fined by ASIC and it can also lead to potential disputes between those who have invested in the business down the track. In addition, when capital […]
11
Aug
Aug
Every business needs licenses and permits in order to run successfully. It’s important to discover what the required permits and licences are for your business type. Licenses and permits are essential because they: Help protect your employees Give your business the needed approvals in order to do business Getting required licenses and permits […]
11
Aug
Aug
It’s important to understand what registrations are necessary in order to pay tax for your business. That way, you will avoid any unexpected tax liabilities and when it comes to tax time there won’t be any confusion. Keep reading to know exactly what you’ll need to file your taxes depending on your business structure. […]
10
Aug
Aug
An ABN number is an “Australian Business Number”. It is a unique number that identifies your business or organization to the community and to the government. To apply you’ll need: Tax File numbers for you and any partners, trustees, or directors. Tax Agent registration number. Previously held ABNs. The date you will start your […]
10
Aug
Aug
Your business may have a lot of intellectual property (IP). Intellectual property includes things like the name of your business or a breakthrough process. Your intellectual property is the ideas which are considered business assets that deserve protecting. There are a variety of intellectual property and different advantages to each. Registered trademarks protect: Brand names. […]
07
Aug
Aug
Before you can start doing business you’ll need to register your business name using the Business Registration Service from the Australian Government. This service combines the registrations for business and tax in one place and makes it easy to start a business. Before you decide on a business name, you should check whether it’s available […]
07
Aug
Aug
In order to supply your business with what it needs to run you’ll need to establish mutually beneficial relationships with suppliers. The key to the success of these relationships is to have clear expectations on delivery, payment, and quality before your collaboration begins. To find lists of local suppliers you can: Search association websites, databases, […]
06
Aug
Aug
When you start your business, the last thing you may be thinking about is your bookkeeping. However, considering how you’ll manage your finances and whether you’ll hire an accountant is an important decision to make at the start. If you keep your financial books organized from the start you’ll save yourself a major headache down […]
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