Establishing a Business in Australia
 Establishing
a business in Australia involves dealing with Federal, State/Territory
and local government agencies. You will need to register your
business for taxation purposes, register your business or company
name, your domain name and, in some instances, obtain business
licences and permits.
Business Name Registration
Any company or individual carrying on business under a name
other than the company’s or individual’s own name
must register that name in the State or Territory in which the business trades.
Registration of a business name also provides an avenue for obtaining a ‘.com.au’ domain
name. However, registration of the business name is based
on the availability of the name.
The Australian Securities & Investments Commission (ASIC) operates a National Names
Index which is a record of all company and business names
registered in Australia, as well as some association names.
You can check the Index, free of charge to see if your proposed
business name already exists. You should also ensure that
your proposed business name does not infringe any Trade Mark
by checking with IP Australia.
Business Structure
An important decision you need
to make when starting a business is choosing the business
structure that best suits your needs and budget. There are
four main types of business structures commonly used by small-medium
sized business in Australia:
- sole traders
- partnerships
- trusts
- companies*.
*Application for incorporation (to become a company) is made
to the Australian Securities and Investments Commission (ASIC).
On registration, each corporation is allocated an Australian
Company Number (CAN), a unique identifying number.
All businesses that intend to trade must register for an
Australian Business Number (ABN) for taxation purposes. Your
ABN is unique to your business and is important in your dealings
with other businesses and government agencies. Once your business
turns over more than $50,000, you will also need to register
for Goods & Services Tax (GST). To obtain input tax credits
for GST purposes, your business must have an ABN number.
Employing people
As an employer, you have certain legal obligations to your staff.
You must register with the Australian Taxation Office, pay wages
according to the relevant State of Federal award, keep employment
records, comply with occupational health and safety requirements,
comply with employment terms and conditions and pay superannuation
contributions.
Competition and Consumer Protection
The Trade Practices Act 1974 is administered by the Australian
Competitions and Consumer Commission (ACCC) and encourages
competition and the conduct of a free market. It restricts
certain forms of exclusive dealing, abuse of market power
and mergers which result in a substantial drop in competition.
Do you qualify for a Business Skills Visa?
Determine your eligibility across all four (4) Business Visa Categories
in just a few minutes and begin the Visa Application
Process to Australia.
|
