How is business income accessed?
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.
What records do I need to keep?
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.
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.
Are you thinking of starting a business?
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.
Find help and support
If you're thinking of starting your own business, you’ll need to look at the different business structure types and work out which structure best suits your needs and business plan.
A company is a type of business structure. You may consider a company structure when starting or growing your business.