Follow these Easy steps in Registering a Company in Australia

Follow these Easy steps in Registering a Company in Australia

Starting a business involves a lot of work. It can be exciting and, at the same time, overwhelming. Registering a company can be just like that if you are unfamiliar with the process. In this blog post, we prepared five steps that are easy to follow.

Step 1: Select a business structure

The business structures available are Sole Trader, Partnership, Trust, and Company. This will depend on what suits your business needs. Most business owners establish a company as there is a limit on personal liability, and it provides legal protection.

Step 2: Choose the right name for your company

Think of a name that will represent your business, simple, impactful, and recognisable to the public and your customers. You may visit the ASIC website to see if the name is still available. They also have a guideline on company names – words should be relevant to your business activity; should not be misleading; and should not have incorporated words such as ‘Commonwealth,’ ‘Reserved or ‘Trust,’ among others.

Step 3: Fill out the company registration form

The form is available online. You must create an ASIC account to complete this electronically. Here are some of the details you will be asked to provide:

1. Company name and proposed office address
2. Director details
3. Shareholders details
4. Main Business activity

You may also choose to register a company through a private service provider (PSP) like us. We offer this service at a cost of $945 which includes the $576 ASIC registration fee.

Step 4: Submit the registration form

Once step 3 is done, lodge the forms to ASIC. Pay the registration fee (currently $576) by credit card, EFT, or Bpay. ASIC usually takes up to two business days to process the application. They will send the company’s ACN and other documentation via email.

 Step 5: ABN and GST registration

It is easy to apply for an Australian Business Number (ABN). Go to the ABR website to the ABN application link and complete the form. The unique 11-digit number will be provided at the end of the application. You may continue applying for other government registration like GST. You must apply for GST if your business’s turnover is over $75,000 annually. There is no charge for doing these registrations.

Remember, registering your company is important. This sets your business on the right track, making it a legal entity that all relevant authorities will respect. Now that you know the steps, you can register your company easily. And with Taxopia, we can make it easier for you. Just fill out our company registration form found on our website to start the process.

Should you require any additional assistance please don’t hesitate to contact us.