How you lodge your tax will depend on your business structure. Find out what you need to lodge and when a Business Activity Statement (BAS) is also needed. Don’t get caught out, find out what you need to lodge and the due dates early.
Starting an online business means applying for a business name, and finding out what licensing and permit requirements apply in your state or territory. You'll also want to get an internet domain name for your website after you figure out your business structure and apply for an ABN.
It's a legal requirement for you to keep records of your business transactions for a minimum of five years, so it's important that you have good record keeping practices in place.
How to register a business name and how to search a name to check it's available. Find out what business name registration means for your business.
If you've got an entrepreneurial spirit, but you're a little younger than the typical age of a business owner, don't worry - you can still start a business as a minor with some proper planning and information!
About reporting and making payments for taxation purposes, using activity statements. You make payments and report your obligations under the tax system using an activity statement.
Your business will inevitably change and grow over time as you respond to different market opportunities, economic factors and personal issues.
Information on employer obligations to make superannuation guarantee contributions for eligible employees and choice of super fund, Australian Taxation Office requirements and payment cut-off dates, and the Small Business Superannuation Clearing House.
Deductions for costs incurred in running your business are allowable, provided the expenses are not of a private, domestic or capital nature.
Fringe benefits are an important part of business and can be a useful way of attracting quality staff. However, if you're going to provide fringe benefits to your staff, you need to be aware of your taxation obligations.