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 […]
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 […]
06
Aug
Aug
Most business owners don’t think about hiring a lawyer until they’re in legal hot water. But establishing a relationship with a good lawyer is needed when you start your business to ensure that you’re complying with legal requirements. A lawyer is especially important when you’re negotiating any types of contracts or legal documents. This might […]
30
Jul
Jul
It’s important to understand the legal requirements for your industry. Each industry has its own legal requirements. However, there are several legal requirements which are standard no matter what industry your business is in. Shareholder Agreements A shareholders agreement is essential if there are multiple owners and stakeholders in a business. As soon as […]