Sole Trader
The individual operates the business personally. Business income and obligations remain closely connected with the individual operating the enterprise.
Business Registration
Build your business on the right foundations.
Starting a business involves more than choosing a name. Business structure, ownership, registrations and the responsibilities that follow can all affect how the business operates. Finance in Life can help you work through the registration process with greater clarity.
Business setup and registration support
Before The Application
Registration should follow the business decision.
A business registration is not simply paperwork. The structure selected can affect ownership, administration, taxation, reporting obligations and the way the business operates over time.
Before registering a company or business name, it is useful to understand who will own the business, what activity it will conduct, how income will be earned and what registrations may be required.
Finance in Life can help bring those decisions together so the registration process reflects the business you actually intend to operate.
Choose The Structure
Start by deciding what the business will be.
Different structures create different legal, administrative and tax consequences. The appropriate structure depends on the circumstances of the business and its owners.
Company
A registered company is a separate legal entity with its own ongoing legal, registration and administrative responsibilities.
Partnership
Two or more parties may carry on a business together, with the partnership arrangement affecting ownership, income and responsibilities.
Trust
A trust arrangement involves a trustee managing assets or business activity for beneficiaries and generally requires additional administration and documentation.
Structure First
A company, business name and ABN are different concepts. Deciding the underlying structure first can help determine which registrations should follow.
Business Name
Give the business a name — but understand what the registration means.
A business name is the name under which the business trades. Australian business names are registered nationally rather than separately in each state or territory.
Registration of a business name does not itself create a separate company or give automatic exclusive intellectual property rights to the name.
01
Choose the proposed name
Consider how the business will trade publicly and
whether the name suits the longer-term business.
02
Check availability
The proposed name should be checked against existing
business-name and relevant trade mark records.
03
Confirm the ABN position
An ABN or ABN application reference is generally
required when registering a business name.
04
Maintain the registration
Business name information needs to remain current
and the registration needs to be renewed when due.
An Important Difference
A business name and a company are not the same thing.
These registrations are often confused when someone starts a business, but they serve very different purposes.
Business Name
A business name is the trading name customers see when the business operates under a name other than the relevant legal name.
Does not itself create a separate legal entity.
Registered nationally through the business names system.
Generally connected to an existing ABN or ABN application.
Requires ongoing renewal.
Registered Company
A company is a separate legal entity created through company registration and has its own ongoing legal and administrative responsibilities.
Creates a separate legal entity.
Receives an Australian Company Number.
Directors have legal responsibilities.
Ongoing company obligations continue after registration.
Registration Map
Starting a business can involve more than one registration.
The Australian Government Business Registration Service brings several key business and tax registrations together, but not every business needs every registration.
01
Australian Business Number
Identifies an eligible business or enterprise when
dealing with government and other organisations.
02
Business Name
Used where the business trades under a name that needs
to be registered.
03
Company Registration
Required when establishing a company as the chosen
business structure.
04
GST
GST registration may be compulsory or voluntary
depending on turnover and business activity.
05
PAYG Withholding
May become relevant where the business has withholding
obligations, including when employing staff.
06
Licences & Permits
Particular industries, activities and locations may
require licences or permits in addition to core
business registrations.
How It Comes Together
Move from an idea to a registered business.
Registration becomes much clearer when the decisions are made in the right order rather than applying for registrations before the business structure and activity are understood.
01
Understand the business
Clarify the proposed activity, owners, expected income
and plans for the business.
02
Decide the structure
Consider which structure reflects the ownership,
operational and accounting needs of the business.
03
Determine the registrations
Work through the ABN, business name, company and
relevant tax registration requirements.
04
Put the accounting foundation in place
Set up records and understand the reporting
responsibilities created by the new structure.
What To Prepare
Bring the business details together before registration begins.
The exact information required depends on the structure and registrations involved, but preparing the main details can make the process smoother.
01
Proposed business activity
A clear description of what the business intends
to do and how it will earn income.
02
Owners and participants
Details of the individuals or entities involved
in ownership or control.
03
Proposed structure
Sole trader, company, partnership, trust or other
relevant arrangement.
04
Proposed business or company name
The preferred name and possible alternatives where
availability needs to be checked.
05
Business addresses
Relevant business, registered office or service
addresses depending on the structure.
06
Expected turnover and employees
These can affect the tax registrations and ongoing
accounting requirements that may become relevant.
After Registration
A registered business still needs ongoing attention.
The responsibilities after registration depend on the structure, taxes, employees and activities of the business.
Keep registration details current
Changes to addresses, ownership, business activity and other registered information may need to be updated.
Maintain accounting records
Establish a consistent process for recording business income, expenses and transactions from the beginning.
Monitor tax registrations
Growth in turnover or changes in activities may create additional tax registration requirements.
Manage BAS obligations
GST and other registrations may create recurring Business Activity Statement requirements.
Maintain business names and company obligations
Business names require renewal, while companies have separate ongoing ASIC and director responsibilities.
Review the structure as the business changes
Growth, new owners, investment or different activities can change what structure and accounting support the business needs.
Connected Business Support
Registration is one part of building the business properly.
Once the structure and registrations are in place, bookkeeping, BAS, business tax and ongoing accounting become part of keeping the business organised.
Business Registration FAQs
Common questions when starting an Australian business.
A business name is the name under which a business
trades. Registering that name does not itself create
a new legal entity. A registered company is a separate
legal entity and has its own company registration and
ongoing obligations.
It depends on the name you trade under. If you trade
only under your own legal name, a separate registered
business name may not be required. If you trade under
another name, business name registration may be required.
No. Registration of a business name does not itself
provide exclusive trade mark rights. Business name
registration and trade mark protection are separate
systems.
You generally need an ABN or an ABN application
reference number when applying to register a business
name. ABN entitlement should therefore be considered
as part of the wider registration process.
No. Different structures suit different businesses.
The appropriate choice depends on ownership, risk,
administration, tax considerations, plans for growth
and the wider circumstances of the business and its owners.
The Australian Government Business Registration
Service brings a number of key registrations together,
including ABN, business name, company and several
business tax registrations. Which registrations are
appropriate depends on your circumstances.
Possibly. Licence and permit requirements depend on
the industry, activity and location of the business.
Core business registration does not automatically
cover every licence or permit a business may require.
General Information
Information on this page is general in nature and does not take into account your individual circumstances. Business structures, company registration, business names, ABN, taxation, licences and other registration requirements can depend on ownership, activities, location and applicable Australian rules. Registration requirements and government fees can change and should be confirmed when an application is prepared.
Starting A Business?
Make the important decisions before the registrations are submitted.
Contact Finance in Life and tell us what you are planning to start. We can help you work through the structure, registration and accounting considerations relevant to the business.