The "Actual" guide on how to start a Business in Australia

The secret accountants don't want you to know - This is super easy!

---

Step 1: Choose a Business Name

1. Create a list of about 5-10 Business names and check them against the ASIC Business Register <https://connectonline.asic.gov.au/RegistrySearch/>

2. 

   In search within :  Select ‘check business name availability’

3. Input proposed business name

4. If business name is available, it should look like below image

5. 

   Once you have chosen a business name, we will need to ensure that it hasn’t been trademarked 

6. Go to -  <https://tmchecker.ipaustralia.gov.au/start>

7. Click start

• Tick the box for ‘I have read the disclaimer and privacy notice’

• Click Ok, Got it

• Select Word

• Enter Chosen Business Name

• Select Next

• List the category that relates most closely to what you are trying to sell

• It will check your trademark 

• It will mostly come up with an error message saying “Our automated check has flagged some potential issues you should consider’’

  

• Ensure that your name and logo don’t match anything existing 

You can also choose to trade mark your name or create a logo and trade mark it as well

---

Step 2: Register your business

After choosing a business name, you will need to decide what structure works best for your business. Please refer to the helpful guide below.

Aspect	Sole Proprietorship	Partnership	Company	Trust	Joint Venture
Liability	Unlimited	Unlimited	Limited (Limited by Shares or by Guarantee)	Limited (Limited to Assets)	Dependent on Agreement
Legal Entity Status	No	No	Yes	Yes	Dependent on Agreement
Taxation	Personal Income Tax	Personal Income Tax	Corporate Tax	Beneficiaries Taxation	Dependent on Agreement
Ownership	Single Owner	Multiple Owners	Shareholders	Trustee	Shared between Parties
Management	Owner	Partners	Directors & Shareholders	Trustees	Dependent on Agreement
Registration	Required if business earns more than 75K	Required if business earns more than 75K	Required	Required	Required
Compliance	Minimal	Moderate	High	High	Moderate
Continuity	Dependent on Owner's Life/Decision	Dependent on Agreement	Independent	Independent	Dependent on Agreement
Ability to raise capital	Limited	Moderate	Easy	Moderate	Dependent on Agreement

1. Decide which business structure works best for your business idea

2. Go to <https://register.business.gov.au>

3. Select Register your Business

4. Select new registrations needed, the below table and the points on the following page are meant to assist you. However, if you are still unsure about the business structure you are planning to use and which registrations you will need, Business Victoria has a helpful tool to help you decide. <https://register.business.gov.au/helpmedecide>

   
   

	Sole Proprietorship	Partnership	Company	Trust	Joint Venture
If business earns below 75k	Business Name	Business Name	Business Name ABN ACN	ABN	Every party in Joint venture must have a ABN
If business earns above 75k	Business Name ABN GST	Business Name ABN GST	Business Name ABN ACN GST	ABN GST (If trust is an NFP threshold is above 150K)	Every party in Joint venture must have a ABN

• If your business has employees, or will have employees early on. Register for PAYG (Pay as you go)

• If you will want to provide employees with Benefits such as Salary Sacrificing, leasing car options, etc. Register for FBT (Fringe benefits tax)

• If your business operates Heavy Vehicles (over 4.5 Tonnes or 4500 Kgs). Register for FTC (Fuel Tax Credits)

• If your business sells or imports luxury Cars. Register for LCT (Luxury Car Tax)

• If your business will sell Wholesale Wines, fruit wines, vegetable wines, cider, perry, mead, and sake (where they contain more than 1.15% by volume of ethyl alcohol), to retailers, you must register for WET (Wine Equalisation Tax).

  
  

5. After selecting all necessary registrations at this time, select next. 

6. You will need to provide information as identified in the table below for selected registrations. You will need to create an account to proceed with the application.

Information Needed	Needed For
Name and contact details of the applicant	ABN / Business Name / Company Name
Address and contact details of the business or organisation	ABN / Business Name / Company Name
Details of each person or organisation associated with the business (e.g. partner, director, secretary or shareholder)	ABN / Business Name / Company Name
Tax agent number (if you wish to use an agent)	ABN / Business Name / Company Name
ABN reference number (if you have an unfinished application)	ABN
Details of business activities	ABN
Tax file number (optional for ABN)	ABN
Proof of identity information such as name, address and birth details	ABN
Business structure	ABN
Business activity details	ABN
Proposed business name (you can apply for up to five names per application)	Business Name
Business name transfer Number (if buying an existing business)	Business Name
Credit card details (please note that we only accept Visa and MasterCard)	Business Name / Company Name
Proposed company name	Company Name
Company name reservation number (if you have a name reserved)	Company Name
Company structure	Company Name
Place and date of birth for directors and any secretaries (must be at least 18 years of age)	Company Name
Details of shares issued	Company Name
Current or projected annual turnover	GST
BSB & account details for refunds	GST/FBT
Number of employees	PAYG
Pay or salary of employees(to help you estimate the amount to withhold)	PAYG
Current or estimated value of luxury cars purchased or imported	LCT
Type of alcoholic beverages	WET
Details of annual turnover from each alcoholic beverage	WET

Way to go on diving into the world of entrepreneurship and dodging those pesky accounting fees! You're officially a business owner!