05/11/2026
🚀 Thinking about starting a business? Getting the basics right from day one makes everything easier down the track.
Here's a simple starting checklist:
✔️ Choose your business structure: sole trader, partnership, company or trust. It determines the tax you'll pay, so it's worth getting advice first
✔️ Apply for an ABN: your business's unique 11-digit number
✔️ Check if you need to register for GST: required once your GST turnover reaches $75,000
✔️ Open a separate business bank account: recommended for sole traders, and needed for partnerships, companies and trusts
✔️ Set up record keeping from the start: use software to track your income and expenses
✔️ Check licences, permits and insurance: what you need depends on your industry
✔️ Plan ahead if you'll hire: you'll need to register for PAYG withholding and set up payroll before your first employee
Not sure which of these apply to you? A registered tax agent can help you work it out before you start. 💡
This is general information only. Your obligations depend on your situation.
Planning a new business? Get in touch with us and we'll help you set it up properly from day one. 📞