Setting up your Business
Setting up your business:
- The first step of setting up your business is registering your abn , which you can easily do online. (google register abn)
- The second step, is to register with your council and get all your permits (see permit section)
- Third step is to get some insurance quotes, and choose a company suitable to you.
Some other helpful business tips:
- Set up online internet banking for your business. In doing this you will have to create a few accounts. we recommend your everyday business account, where your income will go into. Then also other expense accounts, like TAX etc. This will be for you to put money into each week for when (if you are registered for GST) you have to pay your quarterly BAS. This ensures you will have the money already there, and wont need to stress about coming up with a lump some!
- Hiring an accounts person to do your accounts to ensure you are doing all the correct book keeping is essential, and a good accountant.
- You will need to set up a mygov account to lodge all your BAS for the ATO. This is an online portal for all Tax.