How to start own business

[Olly]

Please, if you know give me some links. I want to read about how to start my own business in AU, taxes, declarations etc.

Thanks

[CDW]

http://www.google.co.uk/#hl=en&output=search&sclient=psy-ab&q=how+to+start+my+own+business&oq=how+to+start+my+own+business&gs_l=hp.3..0l4.796.796.0.1168.1.1.0.0.0.0.85.85.1.1.0...0.0...1c.1j2.gV41mUMJhDs&pbx=1&bav=on.2,or.r_gc.r_pw.r_qf.&fp=2fec7a1f50583e74&biw=1600&bih=775

http://www.start-my-own-business.info/
http://www.syob.co.uk/

[TheTraveler]

i don't know anything specific about business in au, but i wish you all the success in the world in whatever new endeavor you decide to undertake, olly!
 

[Olly]

http://www.google.co.uk/#hl=en&output=search&sclient=psy-ab&q=how+to+start+my+own+business&oq=how+to+start+my+own+business&gs_l=hp.3..0l4.796.796.0.1168.1.1.0.0.0.0.85.85.1.1.0...0.0...1c.1j2.gV41mUMJhDs&pbx=1&bav=on.2,or.r_gc.r_pw.r_qf.&fp=2fec7a1f50583e74&biw=1600&bih=775

http://www.start-my-own-business.info/
http://www.syob.co.uk/

Thank you but it is general information and for UK. I need specific information for AU.

[Olly]

i don't know anything specific about business in au, but i wish you all the success in the world in whatever new endeavor you decide to undertake, olly!

Tank you very much  I will wait australian guys wake up. I hope they can help.

[OlgaH]

Please, if you know give me some links. I want to read about how to start my own business in AU, taxes, declarations etc.

Thanks

Olly, check this link http://www.business.gov.au/Pages/default.aspx

you also can google "start your own business australia"
http://www.google.com/#hl=en&output=search&sclient=psy-ab&q=start+your+own+business+australia&oq=Australia+start+own+business&gs_l=hp.1.1.0i30j0i8i30l3.402954.413869.0.415617.28.28.0.0.0.1.757.4520.0j26j1j6-1.28.0.les%3Bcqn%2Cfixedpos%3Dfalse%2Cboost_normal%3D40%2Cboost_high%3D40%2Ccconf%3D1-0%2Cmin_length%3D2%2Crate_low%3D0-030%2Crate_high%3D0-030%2Csecond_pass%3Dfalse%2Cignore_bad_origquery%3Dtrue..0.0...1c.1.yJ_ew40jK4g&pbx=1&bav=on.2,or.r_gc.r_pw.r_qf.&fp=16b2c32e8128e4b&biw=1572&bih=895

[Olly]

Olly, check this link http://www.business.gov.au/Pages/default.aspx

Thank you

[Olly]

Do I understand correct? if i choose "Sole trade" and my sales will be not more than 75K per year I don't need to apply for Goods and Services Tax (GST)?

[CDW]

Thank you but it is general information and for UK. I need specific information for AU.

Try google for specific information for Australia.  My Google search will appear UK automatically because IP are in UK.  I wrote "How to start business" in the google title.


Sorry it seems OlgaH already mentioned it  lol

[CDW]

Do I understand correct? if i choose "Sole trade" and my sales will be not more than 75K per year I don't need to apply for Goods and Services Tax (GST)?

That's correct.  It is similar to UK  (VAT).  I do not know what business are you in, but if you plan to start a "small" business and expect turnover of less than $75,000 per year, than you do not need to worry about applying for the GST.

Remember that "TURNOVER" means money coming in

[JayH]

Do I understand correct? if i choose "Sole trade" and my sales will be not more than 75K per year I don't need to apply for Goods and Services Tax (GST)?

Correct. You do not get exemption from paying it-- you pay as you purchase and get no claim back.

It is very simple to do all registrations.The record keeping is required for income tax purposes regardless .
 To start a simple business-- you can just start!! If you want to register a business name-- I think about $75 depending on which state-- you can then trade  as "xyz".
To register a company-- from about $500 with all the paperwork required.Generally speaking-- I would recommend  going this way--it has advantages on how tax issues are dealt  with--eg -- car can be run thru company and becomes deduction before assessed as income-- thus it reduces income tax.

[Olly]

My Google search will appear UK automatically because IP are in UK.

That why i ask my question. My IP in RU and gives me not correct links.

I think about $75 depending on which state-- you can then trade  as "xyz".

What is "xyz"?

[newjason]

That why i ask my question. My IP in RU and gives me not correct links.

What is "xyz"?

xyz = = your company name.

[I/O]

Olly, there is a lot of information here http://www.ato.gov.au/
 
A word of caution - small business in Australia is quite complicated from an accounting, taxation and compliance perspective.
 
You are correct in that under $75K (for most business types), you are not required to register for or remit GST (Goods and Services Tax), however as has been pointed out prior, you are also not entitled to claim input credits on your business purchases.
 
You may choose to register for GST even if your total turnover does not exceed $75K.  If your trading remains under $75K and your purchases form a small percentage of turnover, you are well advised not to register as this will keep your profit margin healthy, however if your input costs form a high percentage of turnover, then it basically makes no difference if you register or not other than there is more paperwork if you are registered.
 
The above said, if you plan to grow the business to above $75K, then generally speaking, you are better advised to register from the outset and get your record keeping / reporting systems in place whilst it is small and manageable.

Case Study
 
Stock purchases                       $60 000  +  GST = $66 000.00
Sales                                        $70 000  +  GST = $77 000.00
GST Collected Less GST Paid = $1000  payable to the ATO
Trading Profit                            $10 000.00 – No profit on GST
 
Stock purchases                       $10 000  +  GST = $11 000.00
Sales                                        $60 000  +  GST = $66 000.00
Trading profit                            $50 000  +  $5000 profit on GST differential  (No GST to be remitted - not registered)
 
Based on the above, it looks quite simple given that about $50 000 / year is a basic wage, add another $5 000 for the GST differential and it looks OK. The trap here is that such a trading scenario is unlikely to be in supply of goods but more likely in services and given the probable high labour percentage, it may be deemed an employee / employer relationship (s) and that has all sorts of ramifications.   
 

[CDW]

That why i ask my question. My IP in RU and gives me not correct links.

Sorry, I thought you are already in Australia.

Then you can write " How to start own business in Australia" in the google search engine 

[Olly]

Thank you very much guys, now i have a lot to study 

[Olly]

I will not employ workers and to pay them a salary. It means I am not required to register for Pay As You Go (PAYG)?

[I/O]

I will not employ workers and to pay them a salary. It means I am not required to register for Pay As You Go (PAYG)?

Correct.

[Olly]

Correct.

Thanks 

[Olly]

If I want my customers to pay for my work online. What sort of payment is preferable: bank account or something else?

And i love laws of this country
http://personaltaxspecialists.com.au/tax-deductions-for-graphic-designers-or-art-directors

[CDW]

If I want my customers to pay for my work online. What sort of payment is preferable: bank account or something else?

And i love laws of this country
http://personaltaxspecialists.com.au/tax-deductions-for-graphic-designers-or-art-directors

If I need a graphic designer, I'll remember who to recommend  

[Olly]

If I need a graphic designer, I'll remember who to recommend

OK 

[Daveman]

If I want my customers to pay for my work online. What sort of payment is preferable: bank account or something else?

...

The easiest payment process is still paypal though there are the fees.  it's pretty much the easiest method for accepting credit cards, etc. worldwide though to collect/transfer your money you still would need a bank account associated with it. 

[Olly]

The easiest payment process is still paypal though there are the fees.  it's pretty much the easiest method for accepting credit cards, etc. worldwide though to collect/transfer your money you still would need a bank account associated with it.

I see, thanks

[noelscot]

Please, if you know give me some links. I want to read about how to start my own business in AU, taxes, declarations etc.

Thanks

Olly, there is a really cool book called "How to Be Invisible," by J.J. Luna. It has some invaluable business and privacy information in it.
 
Particularly, New Mexico LLCs are very good: http://www.howtobeinvisible.com/index.cfm/page/LLCs/index.htm
 
Good luck!

[I/O]

Olly: If you are looking at domestic transactions within Australia, the quickest, cheapest method of receiving money is direct transfer into your nominated bank account - everyone here is using net banking in some form or another.
 
Paypal is probably OK for international transactions but If I recall correctly (haven't used it for years), they charge a fairly significant commission?
 
Mobile Eftpos (Electronic funds transfer point of sale) machines are now available for quite a small rental cost. Many tradesmen and on site service providers are now using them. One example here (there are dozens of choices)  http://www.getmeeftpos.com.au/?gclid=CISWz8n2prICFZBUpgodOkEACQ You can complete CNP (Card Not Present) transactions with these if the client provides their credit card details.
 
Face to face, credit card is big but for mine, in a small business, even today 'cash is king'.
 
A few people are still using cheques - in the business I manage, which is part of a very large conglomorant, we still write a surprising number of cheques, maybe 50 per month but we also use direct EFT (Electronic Funds Transfer) quite a lot.
 
For personal business, I very rarely write a cheque these days - all EFT or Bpay.
 
Bpay http://www.bpay.com.au/ is another option. It may be expensive for a small number of transactions - the business I manage doesn't use it for either debtors or creditors but I use it from a client perspective for my personal creditors such as electricity and telephone suppliers, kids school fees and so forth.
 
Australia Post Bpay http://postbillpay.com.au/ is yet another option - frankly, I don't know much about is as I have never had cause to use it. 

[Olly]

Thank you, I/O
I think the bank account will be better for start.

[I/O]

Thank you, I/O
I think the bank account will be better for start.

I tend to agree - for security purposes, it is probably wise to have a specific separate account for the purpose.

[Olly]

Anyone knows, do I need to register (like Sole trade or something else) if I trade on EBay? Just interested 

[I/O]

You may register a business name, even as a sole trader, if you choose. In Qld http://www.fairtrading.qld.gov.au/

[Olly]

You may register a business name, even as a sole trader, if you choose. In Qld http://www.fairtrading.qld.gov.au/

Thanks