Work out which registrations you need
When you’re starting a new business, it’s important to find out what registrations apply to your business to ensure you’re complying with all relevant regulations.
You may need to register your business for a number of tax obligations. The most common tax registrations businesses need is a tax file number or TFN, an Australian business number or ABN, goods and services tax or GST, pay as you go withholding and fringe benefits tax. If you’re registered for GST, you can also register for fuel tax credits.
You can complete and lodge applications for most tax obligations online at abr.gov.au, by phoning the ABR on 13 28 66, or through your tax agent.
Most businesses will need to apply for a registered business name with the Australian Securities & Investments Commission (ASIC).
You can carry on a business in your own name without registering a business name if you don’t change or add anything to your name. For example, John Smith doesn’t have to register a name to trade as J Smith or John Smith, but he does to trade as John Smith Landscaping.
To apply for a registered business name you will need to have applied for or have an ABN.
You can register a business name using the Australian Government’s Business Registration Service. BRS combines several business and tax registrations in one place, making it even easier to start a business.
ASIC Connect - If you already have an ABN, you can apply for a business name directly with ASIC by using ASIC Connect. You will need to register online for an account.
Private service provider – You can choose to register or renew your business name with a private service provider (PSP). This could be your accountant, your solicitor, or another business that provides online services with ASIC. They will usually charge a fee for their services above what ASIC would charge.
If you have questions in relation to the above, or any other matters, please do not hesitate to contact our office on 1300 620 345.