Individual ABN tax services
Self-employed refers to an individual who runs a business. Self-employed business is the simplest and cheapest business structure in Australia.
The self-employed need to take full responsibility for their own business, and all losses incurred shall be borne by the self-employed. At the same time, the tax bureau requires self-employed individuals to keep financial records for at least five years.
The benefits of self-employed business include simple structure and convenient management, low cost, self-determination, you can apply for a tax refund with your own TFN, and no additional bank accounts are required to record operating income and expenses.
Partner tax services
Partnership refers to a business structure in which two or more partners jointly operate a business.
The operating costs of partners are relatively low, the threshold is low, and the partners can share risks and losses.
But at the same time, the tax bureau requires partners to operate with a turnover of A$75,000 or more. The partner company must apply for the Australian business number ABN.
01/
Required information: self-employed information
Name
birthday
phone
mailbox
address
Australian Business Number ABN
02/
Income and Expenses and GST GST
Income: bank transfer; cash income
Expenses: inventory on the 30/06 day; purchase cost; last year's accounting expenses; bank expenses; advertising expenses; freight expenses; office expenses; insurance expenses; internet expenses; telephone expenses; rent; tool expenses; business travel expenses; water and electricity expenses ; Labor insurance supplies; pension payment
03/
Other information required
Whether there are large fixed assets
Have employee wages been paid
Is there an outsourcing contract
Are there bank statements and invoices