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| Starting your own business; has anyone tried to start a business once landing? | |
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| Topic Started: Aug 18 2010, 11:44:46 AM (260 Views) | |
| beckagator | Aug 18 2010, 11:44:46 AM Post #1 |
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True Blue Mate
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Hi, I do some photography work and I would like to possibly start a business with it in Australia (Currently photography is just a hobby that pays for itself and my day job pays my bills) I didn't know if anyone had any information for starting their own business in Australia (I'm immigrating on a fiance visa) I have a couple business plans in other fields in the works, any advice? Thanks in advance! *edited for clarity. Edited by beckagator, Aug 19 2010, 08:55:52 AM.
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| sheowahya | Aug 19 2010, 12:00:12 AM Post #2 |
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True Blue Mate
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Not sure what you mean by this. If photography is your hobby, then you do not need to set up a business. You will not be able to claim any expenses for a hobby on your tax return, but you also don't need to report income from a hobby either. The problem with this can be when your hobby pays a substantial amount of money and the ATO finds out about it (and with the dob-in mentality here, it happens all too often). If photography is your "day job", and you work for someone, then you will be an employee and no need to start a business. If photography is your "day job" and you are self employed (I'm guessing this is the case) then you will need to register for an ABN (Australian Business Number). This number must be on all invoices and correspondence that you use for business purposes. If your turnover (sales) is expected to be $75,000 or more, you are required to register for GST. You must collect and remit GST to the ATO on a periodic basis. The good news is, if you are required to register for GST, you are also allowed to claim back credits for GST that you have paid on purchases in relation to your business. Best of luck in your new ventures!! cheers, Marilyn |
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My Timeline ======= Category 136 BN - Skilled Independent. Skills Assessment: Applied ICAA: 13May05 Addtional Classes Required: 08Aug05 Re-submitted PASA: 05Feb07 Approved as Accountant 2211-11: 26Feb07 Main Visa Application: Sent to ASPC: 12Mar07 Application received: 16Mar07 Acknowledgement received: 10May07 Credit Card Charged: 10May07 CO assigned: TBD Medicals sent UNrequested: 26Jul07 PPC sent UNrequested: 18Jul07 VISA Approved: 07Nov07 Main move to Australia: 17Apr08 | |
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| beckagator | Aug 19 2010, 08:57:55 AM Post #3 |
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True Blue Mate
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Thanks Marilyn, That was good information, and helped me explain better what I was trying to say, Sometimes I get ahead of myself. Is filing for an ABN a difficult process? |
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| sheowahya | Aug 19 2010, 10:11:43 PM Post #4 |
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True Blue Mate
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Applying for an ABN is very easy. HERE is the link to the ABN register to get you started. Read the directions and follow the prompts. Cheers, Marilyn |
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My Timeline ======= Category 136 BN - Skilled Independent. Skills Assessment: Applied ICAA: 13May05 Addtional Classes Required: 08Aug05 Re-submitted PASA: 05Feb07 Approved as Accountant 2211-11: 26Feb07 Main Visa Application: Sent to ASPC: 12Mar07 Application received: 16Mar07 Acknowledgement received: 10May07 Credit Card Charged: 10May07 CO assigned: TBD Medicals sent UNrequested: 26Jul07 PPC sent UNrequested: 18Jul07 VISA Approved: 07Nov07 Main move to Australia: 17Apr08 | |
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| blarg | Aug 20 2010, 01:00:18 AM Post #5 |
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True Blue Mate
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Also, if you're trading in anything other than your name you need to also register the business name. If your name was John Smith and you started trading as John Smith Landscaping you'd still need to register the business name.  Research the different company structures here as they're different than in the US and have different implications. |
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