mamamegs Posted November 27, 2012 Share Posted November 27, 2012 Morning! I wonder if anyone can tell me the quickest/easiest/most economical way of setting up a business for my husband's tiling/stone work? He works away 5 days/wk so I'm going to try & sort it myself in the next few days. We're starting to run low on $$ & need an ABN pronto, so he can invoice for the last month's work. Any pointers appreciated TIA Megsx Link to comment Share on other sites More sharing options...
JoandJon Posted November 27, 2012 Share Posted November 27, 2012 Hi there, I'm pretty sure you can just sort it out directly with the ATO - if you go to http://www.ato.gov.au and follow the links from 'Get a tax file number' using the option of 'business entity'. It takes you to another website that has more info for you. Sorry I can't be more specific help - but with any luck it'll be a good start for you RIght, now off to walk the furry and non-furry ones before it gets too hot Link to comment Share on other sites More sharing options...
mipi Posted November 27, 2012 Share Posted November 27, 2012 Hi Megs Does he have a tfn yet? You need to have this before you get an ABN. TFN takes upto 4 weeks to get but ours took about 2 weeks. You can apply for both at same time. If he does have a TFN and you need ABN very quickly, some online companies can provide it there & then. Not sure how reliable they are though or you could just wait for ATO. Tax returns are from July to June each year so as far as reporting, you have till October next year to file & pay across tax. Thereafter, I think it's every 3 months based on there estimation. Also if you invoice over $6800 per month, he needs to be GST registered. We're just in process of doing this. Hope that helps. Michelle Link to comment Share on other sites More sharing options...
Alan Collett Posted December 1, 2012 Share Posted December 1, 2012 Hello Megs. Suggest you consider asking an accountant to assist, as you are probably going to need some assistance at tax return time. Most accountants are registered tax agents - and as such have access via the tax agents portal into the ATO, which should allow for an expedited ABN. I know that we do ... Note also that taxpayers using registered tax agents usually have an extended deadline for lodging their annual tax return. Most of our personal tax clients have until mid-May following the end of the tax year, compared with 31 October for unrepresented taxpayers. Best regards. Link to comment Share on other sites More sharing options...
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