Do you know what licences and registrations apply to your business?
Businesses will be subject to different licences and registrations depending on the country, state and/or territory of operation as well as your specific industry.
Local regulations may also apply. For example do you need advertising signage approvals, and footpath usage approvals from your local council? Do you need to lodge a development application to operate from home permit? Do you need a commercial vehicle permit, commercial vehicle registration?
Here are our top 5 must-knows when it comes to licences and registrations in Australia.
1. Use the ABLIS service
Search the Australian Business Licence and Information Service (ABLIS) to find licences, permits and other registrations that apply to your business.
2. Register your business or organisation
You may be required to register your business name and obtain an Australian Business Name (ABN) or Australian Company Name (ACN).
3. Tax obligations
You will need to understand the different types of taxation that may apply to your business, and how to register for them including:
- A Tax File Number (TFN)
- Goods and Services Tax (GST)
- Fringe Benefits Tax (FBT)
- Pay as You Go (PAYG)
- Payroll Tax.
4. Get industry specific information
You should get information about requirements that are specific to your industry. You can check out these industry specific fact sheets. You may also like to to consult a peak industry or membership association for your industry.
5. Know where to get more information
Your state or territory most likely has a website with small business resources and further information on regulations, departments and agencies specific to your business. A list of such sites in Australia and New Zealand can be found here.
Don’t forget to check out our 5 Steps to Starting a Business.