Start Up Business

The tax specialists

Get advice from us.

we are the tax experts across a wide range of from both a personal and corporate tax perspective.

Choosing a business structure

Before you invest time and money into setting up your business by registering and applying for the right business licences, make sure you put together a business plan and carefully consider how viable your business is.

Many businesses fail when these things aren't considered. Get in touch with the Office of the NSW Small Business Commissioner or an industry association to get advice specific to your area.

1. Set up as a sole trader

Operating as a sole trader is the simplest and cheapest business structure you can set up. You control and manage the business, and although you 'trade' on your own, you can still employ people to work for you.

2. Register a company

If you've decided a company structure is best for your business, you'll need to register your company with the Australian Government.

3. Register a limited partnership

If you’ve decided a limited partnership structure is best for your business, you’ll need to register the limited partnership with the NSW Fair Trading’s Registry Services.

4. Set up a trust business structure

A trust is an obligation imposed on one person or entity – the trustee, to hold property for the benefit of another – the beneficiary. The trustee can be an individual or a company, the latter providing some asset protection.

5. Register a co-operative

If you've decided a co-operative is best for your business, you'll need to register the co-operative with NSW Fair Trading's Registry Services.

Starting a business

Register an Australian Business Number (ABN)

You don't have to register for an ABN, but an ABN will let you claim Goods and Services Tax credits, energy grants credits, register an Australian domain name, plus more.

Apply for an Administrator AUSkey

An AUSkey is a unique secure login linked to an Australian business number (ABN), which allows you to access and send business information to government online.

Register a business name

You'll need to register a business name, unless you're a sole trader or partnership and your business name is exactly the same as your or you and your partner's first and last names. You'll need an ABN or ABN application number to register your business name.

Register your business for Goods and Services Tax (GST)

You must register your business for GST if
- Your GST turnover is $75,000 or more
- You provide passenger transportation services (e.g. Ola, Uber, Didi)

Apply for a business Tax File Number

The Australian Taxation Office (ATO) will automatically issue your partnership, company or trust with a business TFN when you apply for an Australian Business Number (ABN).

Apply for an individual Tax File Number

If you’ve decided a sole trader structure is best for your business, you’ll need to apply for an individual Tax File Number.

Register for PAYG withholding

You'll need to register for PAYG withholding if you need to withhold tax (on behalf of the Australian Tax Office) from payments you make to employees, contractors, or other businesses that haven't supplied you an ABN.

Get liability insurance for your business

You can choose to take out public liability, professional indemnity, or product liability insurance. Public liability insurance protects you and your business against the risks of damage or injury to people or property. While it's not mandatory, it's essential for a business.

Register for fuel tax credits

You may be eligible to register for fuel tax credits for the fuel used by your business.

Service.nsw.gov.au. 2021. Start or grow a business in NSW | Service NSW. [online] Available at: [Accessed 30 March 2021].