These steps are important for you to know when changing structures, however they are also applicable when you are starting a company.
When starting a business you may consider setting up a business bank account to manage your business finances.
What is the volume of paperwork and ongoing costs?
How is business income accessed?
Are you thinking of starting a business?
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.
Federal income tax is levied on the taxable income of a person or a business. Find out when you need to lodge your income tax return.
Your business activities will determine the type of insurance you require – for example, your business type (online, home-based etc.), whether you sell products or services, and if you employ people.
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A trust is an obligation imposed on a person - a trustee - to hold property or assets (such as business assets) for the benefit of others, known as beneficiaries.