What Registrations Do I Need to Start a Business

When starting a business there are some miss-conceptions about what registrations are required to start a business.

Whilst there are some specific registration and or accreditation requirements, for example; builder registration, the main requirements are imposed and overseen by the Australian Taxation Office:

  • TFN (Tax File Number) and ABN (Australian Business Number)
  • GST (Goods and Services Tax)
  • PAYG (Pay as You Go tax) and
  • FTC (fuel tax credits)

Sole Traders

If a business is operated as a sole trader, the individual person will usually already have a TFN (tax file number) and will also need to apply for a ABN (Australian business number).
We can do this for you.

Partnership – Company or Trust

For partnership, company or trust, Tax file numbers and Australian Business Number applications are necessary.

The other registrations, GST, PAYG and FTC can be dependent on various circumstances like turnover, net profit, employees/type age of equipment and vehicles using fuels.

Registering partnerships, companies and or trusts can be complex however, we can simplify this and get it done quite quickly for you without fuss.

Other Types of Registrations

If no other industry or council registrations are required, then these are the only registrations necessary to get started. Other types of registrations can also include the following:

  • Builders – usually a state administered body that oversees the various state building regulations;
  • Motor Vehicle Dealers – state administered body who oversees motor trades and dealers
  • Registered Training Organisations – These are training businesses that require various federal and or state accreditation
  • Professional and legal firms – must be accredited with various professional bodies and or government licenses
  • Food preparation – kitchens and commercial food manufacture’s will require council and state accreditation
  • Child care and education – this category will require state and or federal accreditation
  • There are many other types of business operations that may require specific licensing and or accreditation – for example; farming, medical, and therapeutic services etc

The main point here is that most people who intend operating in a regulated industry will usually be aware of such requirements. Outside of those requirements, the above Australian Taxation Office registrations are the main registrations required. Reach out to us for a chat and learn more about how we can simplify everything to help you. Companies Direct is a subsiduary of Maynard Accounting in Springwood QLD.

See also related post: How to register a Pty Ltd Company

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