Business registration guide

This tool can help you work out:

The business structure that will best suit your needs
The basic business and tax registrations you should consider applying for.

The business structure that will best suit your needs

Sole trader

You’re an individual and the sole owner of the business, but you can employ staff. You’re responsible for all decisions and losses in your business, and you report the business income in your personal tax return.

Partnership

You and your partners carry on a business together and share income, losses, and control of the business. The partnership can employ staff, but the partners in the partnership are not considered employees.

Company

A company is a separate legal entity from you, and has at least one shareholder (owner) and one director (who runs the business). Income and losses belong to the company. Companies can employ staff.

Trust

Your business or businesslike activity is managed by a trustee for the benefit of others (the beneficiaries). A trustee is responsible for dealing with the trust, including lodging returns, distributing income or losses to the beneficiaries, and is also responsible for overseeing the payment of debts.

Superannuation

This means all superannuation entities including Self-Managed Super Funds (SMSFs). For a super fund to exist it must hold assets and have a trust with an appointed trustee.

The basic business and tax registrations you should consider applying for.

Australian Business Number (ABN)
Business name
Australian Company and Company name

Select additional registrations
To select these additional registrations, you’ll need an Australian Business Number (ABN). If you don’t have an ABN, you can apply for one in this registration.
If you already have an ABN and just want to apply for tax registrations, please visit the Apply for tax registrations page.

Goods and Services Tax (GST)
Pay as You Go (PAYG) withholding
Fringe Benefits Tax (FBT)
Luxury Car Tax (LCT)
Fuel Tax Credits (FTC)
Wine Equalisation Tax (WET)

If you are unsure of your eligibility for an ABN, you may wish to only apply for an ABN first, then apply for your business name once your ABN application has been approved.

Please note: If your application for an ABN is unsuccessful, your application for the registration of a business name will also be unsuccessful. You will be provided with a refund of your business name registration fees.

Consider seeking independent professional advice. We can help you providing professional advice.