Six Fundamental Guidelines For Buying A New Business In Australia

Buying or launching a new business in Australia

, necessitates you to work with more than one government agency to ascertain that all the procedures are followed completely. The Australian Federal, State/ territory, and Local government are an integral part of the process in building the business. Every business started needs to be registered. The registration aids the government to know the taxes needed to be paid by the business owners.

Registration is also necessary for the business name, your domain name, and what licenses or permits you might need for the business.

It is imperative that every business that operates out of a land based location or on the Internet needs to follow the laws of Australia.

1.Business Name Registration: There are two processes for registering the company or business name in Australia.

If you are buying the business and wish to keep same name there is no need to re-register the name with the State.

But if you open a new business or change the name of an existing business you have to register the name with the State.

2.Domain Name: At time of registration of a business name with the State you can also procure a domain name for a website.

3.Trademark: Any business can have a trademark. It is not always compulsory, but if you have a product that you desire brand recognition for it is recommended that you register it. Nevertheless, the Australian Securities and Investments Commission records business names. These businesses go into a National Names Index thus no company can have the same name. While starting a new business one can check the index to see if the volunteered name is being used.

4.Category of Business Structure: The main business structures are sole traders, partnerships, companies, and trusts.

5.Different Registrations for New Business: If the business needs to be incorporated you must seek the application from the ASIC. At registration the company is given a ACN or identification number (Australian Company Number). Companies are not the only ones to get an identification number. A business must apply for the Australian Business Number (ABN). This number like the incorporated number presents information to the government for tax reasons. Most importantly the ABN number permits you to work with other businesses or government entities. If your business earns revenue over certain limit you must register for the Goods and Services Tax. To apply for the GST your business must have an ABN.

6.Employee Processes: In Australia a business owner has legal obligation to the staff they hire and they must provide information to the Australian Taxation Office regarding wages paid to them. The wages must be in observance with the Federal and State laws. Records of all employment are compulsory and it is essential to operate your business under the health and safety laws of Australia.

Thus, a business start up in Australia involves a total range of complex registration processes with several authorities. All this necessitates the proficient support of an expert in the field of accounting and laws. It would be excellent if you had access to the accurate kind of business advice and instruction before you started your business. ABN Registrations is your most suitable online ally in this respect. At ABN Registrations online you will find support for all the necessary registrations for your business. Visit www.abnregistrations.com for more information.

by: Joe Bowers

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