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Business structure
Sole trader
A sole trader may be the right business structure for you.
Learn moreA sole trader is the simplest form of business structure and can be inexpensive and easy to set up. It tends to suit people who:
- want to be the only owner and have full control of the business
- have a hobby or side hustle that has become a business.
As a sole trader you’re responsible for everything in your business including debts, losses and day-to-day decisions. You can employ people too.
6 required registrations
We found 6 required registrations your business needs to apply for.
3 recommended registrations
We found 3 recommended registrations you should consider.
Steps for registering your business
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1 Register your business
Short OPTIONAL sentence explaining first what these registrations are, e.g. registering their business with Government.
You may need a MyID make the process of registering with Government easier.
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Processing time
Instant
Cost
Free
You need an individual TFN if you use a sole trader business structure.
A TFN is your unique number in the tax system.
You use your individual TFN for your business.
Learn about TFNs on the Australian Taxation Office website.
Processing time
Instant with a strong myID
28 days without a strong MyID
Cost
Free
You need an ABN if you use a sole trader business structure.
An ABN is a unique number that identifies your business. You need it for tax and other business activities.
Businesses that have ABNs are listed in ABN Lookup.
Before registering
You need an individual tax file number (TFN) to register for an ABN.
Processing time
Around 10 minutes
Cost
Free
You need to register your business name if it is different to your personal name.
Check if the business name you want is available with the business name check tool.
Before registering
You need an ABN or an ABN application reference number to register a business name.
Processing time
Usually less than 48 hours
Cost
$47 for one year
$108 for 3 years
2 Register for taxes
Short OPTIONAL sentence explaining what these registrations are for.
You need this because ...
Getting set up for ATO Online Services means creating a myGov account and linking it to the ATO.
Processing time
Instant
Cost
Free
You need to pay GST if you turn over $75,000 or more in a 12-month period.
You need to pay GST if you provide taxi, limousine or ride-sourcing travel for passengers.
You need to pay GST if you sell or import luxury cars.
GST is a tax of 10% on most goods and services.
When you are registered for GST you:
- include GST in the price you charge for goods and services
- claim credits for GST on the cost of goods and services you buy for your business.
You can choose to register for GST even if you do not need to.
Learn how GST works on the Australian Taxation Office website.
Before registering
To register for GST you need an ABN and to be registered with ATO Online Services.
Processing time
Instant
Cost
Free
You need to register for PAYG withholding if you hire employees.
PAYG withholding is the tax you take out of your employees’ wages and pay to the Australian Taxation Office (ATO) on their behalf.
It prevents employees from having a lot of tax to pay at the end of the financial year.
Learn about PAYG withholding.
Before registering
To register for PAYG withholding you need an ABN and to be registered with ATO Online Services.
Processing time
Instant
Cost
Free
3 Other registrations
Short OPTIONALsentence explaining what these registrations are for, e.g paying taxes, IP etc.
You may need a trade mark to protect your business name.
You may need a trade mark to protect your brand.
A trade mark protects your business name or brand. It gives you exclusive rights to:
- use your business name or brand in Australia
- place the ® symbol next to your business name or brand
- take legal action to stop anyone else using your business name or brand
- sell or license your business name or brand to others.
Applying for a trade mark costs at least $250.
You can renew your trade mark indefinitely.
Go to the IP Australia website to:
- learn about trade marks
- check if a trade mark is available through TM Checker.
Processing time
7+ months
Cost
Applying for a trade mark costs at least $250.
You may need to register a domain name if you want a business website
You can register a domain name (website address) even if you're not ready to set up your website.
This gives you a better chance of securing a domain name that reflects your business name.
Learn about .au domain names on the auDA website.
Before registering
To register a .com.au or .net.au domain name, you must have an ABN.
Processing time
Instant
Cost
Registering a domain name can cost anywhere from $10 to $80 for one year. You can also pay to set up email addresses for your domain.
4 Explore registrations not covered in this tool
This tool covers some basic registrations. You may need other registrations to start your business or as it grows.
Use the Australian Business Licence and Information Service to check if you need any licences and permits
ablis.business.gov.au
Go to the Australian Taxation Office website to check if you need to pay other taxes on your business transactions
ato.gov.au
Go to the Payroll Tax Australia website to check the state and territory rules for payroll tax if you employ people
payrolltax.gov.au