Posted April 14, 200916 yr Hi Does anyone here have an ABN and fill out the BAS forms ? I have to get an ABN. Problem is - my sphincter does Elvis impersonations every time I go anywhere near a tax form. I have the documentation from the ATO but it still seems opaque to me. Is it difficult ? Any advice ? Thanks. "When you have to kill a man, it costs nothing to be polite." - Winston Churchill
April 14, 200916 yr tis very simple...... don't be shy now.. you just apply for an ABN but supplying your name and tax file number etc.. also don't forget you do not need to register for GST until you make $50K per year. It really is worth spending 10 minutes with a good accountant to sort out exactly what you do and don't need. From there on it's all pretty simple.. esp for a sole trader. [sIGPIC][/sIGPIC]
April 14, 200916 yr Author OK I am just worried about getting something wrong and then owing the ATO like a squintygazillion dollars in fines... A good accountant... hrmmm... that's another thing altogether... I hope it doesn't cost much coz I aint got much to spend... p.s. I thought it was $75K for GST... blah - it doesn't matter... it is only a small enterprise I am looking at... Edited April 14, 200916 yr by mandatory05 "When you have to kill a man, it costs nothing to be polite." - Winston Churchill
April 14, 200916 yr Sandy don't forget to register the business with the department of fair trading once you have the ABN as your bank will not open a account with out the business being register there. ---- http://img67.imageshack.us/img67/4300/usarmyltgf2.gif http://bigdgaming.net/images/added/awards/OperationCrownRibbon.jpghttp://bigdgaming.net/images/added/awards/valorousunit.bmp
April 14, 200916 yr Author OK... more to worry about... (*sigh&lol*) I have a baby on the way... and many other concerns... argh... thanks for the advice ____________________________ EDIT: Hey JL - do I need to register with the Department of Fair Trading if I am just registering my own name for an ABN ? Edited April 14, 200916 yr by mandatory05 "When you have to kill a man, it costs nothing to be polite." - Winston Churchill
April 14, 200916 yr Hit me up on msn Sandy. lingus4@hotmail.com. I should be able to set you straight. Edited April 14, 200916 yr by katuokonb http://i83.photobucket.com/albums/j314/Lingus4/lingusevilfun.png Joint Captain of PR Team.
April 14, 200916 yr Just don't ask Dairy, he'll set you anything other than 'straight'. http://img.photobucket.com/albums/v390/pennywise_pw/pennywiseevilfun.png -Evi|. PR Captain
April 14, 200916 yr Sandy don't forget to register the business with the department of fair trading once you have the ABN as your bank will not open a account with out the business being register there. Spot on! Go here and select the "Register your business name in your state or territory" link. http://www.business.gov.au/Business+Entry+Point/Business+Topics/Registration+and+licences/Register+your+business+or+company/Register+your+business+name.htm Read throught the info relevent to your state, and make the application. It really is quite easy and trouble free. You might need to search for someone else who may have the same business name...they won't let you double up unless they feel the names wont cause a problem (i.e. same industry etc). GLHF! http://www.clan-tea.com/sigs/2011/Rec0n3.png
April 14, 200916 yr Author Thanks all. BTW - I don't have msn... I dumped it years ago when I started getting spam messages... "When you have to kill a man, it costs nothing to be polite." - Winston Churchill
April 14, 200916 yr what do you want to buy with the proposed 30% rebate Sandy? http://i783.photobucket.com/albums/yy116/IINoddyII/aux1_zpsab5224fd.png
April 14, 200916 yr Author uh - 30% rebate ? :eh-smiley: I'm lost... do you mean the economic stimulus junket ? I don't get it - all my 2007-08 tax was deductible (i.e. refunded)... I assume this is why I have been deemed ineligible for the $900... :confuse: with a baby coming, any money will probably go on nappies... or baby food, or etc. Edited April 14, 200916 yr by mandatory05 "When you have to kill a man, it costs nothing to be polite." - Winston Churchill
April 14, 200916 yr tax breaks for small business investments https://www.machineryhouse.com.au/images/home/Gov_Investment.pdf http://i783.photobucket.com/albums/yy116/IINoddyII/aux1_zpsab5224fd.png
April 14, 200916 yr hey sandy - there are lots of things you need to register for if there is a sandyspawn on the way and they all take a bit of time and then you get money - yay. so may sure you register for the following - or find out if you are able to get them. Family tax A - based on your combinded wage Family tax B - based on the lowest income earners wage Parenting Payment - is based on joint income Return to work assitance Also a good thing to remeber is that if you having your own business is that there is a differance between drawings and wages. Oh and if it is an at home business and you are looking after sandyspawn then there is a differant amount that you can earn than if you are working. You may also get a healthcare card which comes in handy when you have to take the minion to the doctors and then pay for pills that cost heaps - only around $5 with that card. With the ABN you have a registered business name and can also have a trading name - so dont give yourself some cool business name and then not register it. You dont need to quote your abn if you are under the non gst amount but make sure that your creditors/suppliers are aware of this. and i think that is it
April 14, 200916 yr Author *sigh* life was so simple, once... _______ thanks... "When you have to kill a man, it costs nothing to be polite." - Winston Churchill
April 14, 200916 yr Author Late August "When you have to kill a man, it costs nothing to be polite." - Winston Churchill
April 14, 200916 yr lol, it all sounds a lot more confusing than it really is... l forgot the part about regíng your business name... as said though, 10 mins with a (lets say half decent) accountant will answer all your Q's.. [sIGPIC][/sIGPIC]
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.