For those who know how to register an ABN it’s considered quick and easy, but when registering your business have you compared the different tax implications from being a sole trader or propitiatory limited company? in your circumstances is it necessary to be GST registered? is the most tax effective strategy to set up a trust? These are only some of the most basic questions you need to know when registering a business correctly.
Many people set up a business themselves only to discover years down the track they either cant borrow money from a lender, they’ve paid too much tax or not enough because it was registered incorrectly.
So before registering your business speak with our financial adviser or accountant to make sure you’re in the best position to operate your business.