In This Chapter
Structuring your business affairs
Setting up as a sole trader
Running a partnership
Becoming a company
Forming a trust
B efore you hang up your ‘Open’ sign in the window, you need to be aware of a number of commercial and taxation issues that are associated with setting up a business in Australia.
In this chapter, I cover the major taxation issues that come into play when you set up a business, particularly the administration concerns that you need to get right in order to comply with Australian income tax law. I guide you through the various steps that are associated with setting up your business and advise where you can get additional help to fulfil all your legal obligations.
Before you can start up a business, you need to give serious consideration to how you structure your business affairs. You can legally structure your business in one of four ways: sole trader, company, partnership ...