Thanks for reading.

> So do i apply as the sole trader or what would i come under?

Yes, you would be a sole trader in this kind of basic example – trading under your OWN name (rather than registering a separate business name).

> Also how long will it take for my abn to be sent out to me so i can commence work?

If you do it online, I believe you should be able to get your ABN straight away. How long it takes before you get the official letter in the post, and how long before you officially get listed in the Australian Business Register is another issue altogether. Still, you should be able to at least get the ABN quickly – which is the most important thing.

Hope that helps. Good luck!

Thanks for your time. Sorry for asking such basic questions.

Thanks for reading.

My blog is only intended to provide general information. You’re best off speaking to a lawyer/accountant about individual circumstances, especially ones as potentially complex as that.

Money spent on a lawyer/accountant at this stage of the process will be money well spent.

I am a contractor as a marketing consultant which derives 100% of income from one company. Of course the intention was to contract to several businesses but currently that is not the case, or at least over 80% of my income is from one source. I charge an hourly fee and provide an invoice based on timesheets. So the invoice amount can vary from week to week. I have an ABN and TFN. I work from the office and from home and do not get paid for sick leave or annual leave. I thought I fit under the “Personal Services Income” rather than as a sole trader. I currently do not pay myself any superannuation but am registered for GST since I earn over the threshold and do my own BAS and PAYG for tax purposes. The business I contract to covers me in their public liability, workers comp and payroll tax.

Im confused as to registering myself as a company since it looks like I come under the “employee” status – clearly I would be at a disadvantage. I do not employee anyone else – its just me and I have no intention of selling the business. In moving to a company as a single employee what exactly will change for me?

Is their a way I can retain the status quo?

Thanks for reading, and for your kind comments.

As for your question, you could potentially register a name as a Trademark, which gives you far greater rights to the name than a simple business name registration does.

However, even with Trademarks, you have to be able to prove that you’re actually using it (ie. using it to sell goods or services). More info here: http://www.ipaustralia.gov.au/trademarks/index.shtml

Which reminds me – make sure you also search Trademark databases when trying to come up with a “brand” name. More info here: http://www.ipaustralia.gov.au/trademarks/search_index.shtml

Lastly, bear in mind that if you register a website using a name that you haven’t registered as a business name or TM means that, somewhere down the track, someone who DOES register that name might have a claim to your website address (presuming they don’t already!).

These are complex areas though, and you’re really best off speaking to a intellectual property lawyer if you’re concerned about that sort of thing.

Hope that helps.

Thank you very much for this very informative article. It was looking just for that. The links you provided earlier to the ATO were particularly helpful.
For now, I think I’m not ready for a business or even a sole trader with ABN. It’s more of a hobby without any income, really, but might turn into something more.
In comparison to what some other people in the comments wrote, who didn’t want to look for a business name, I enjoy playing with words and came up with a few ideas for a name, all of which don’t seem to have been registered, yet. Do you have a suggestion how to best proceed? I guess registering a name without a business isn’t possible? If I want to create a web site with the name, can I do this without business name? But somebody else might come along and register the name and use it for himself?

Thanks again for your time, especially replying to all the comments!

Ben

Generally speaking, you should be able to register more business names under one ABN. So then you are “trading as” whatever business name you have for a particular area or industry.

one question regarding two names of the business:
can have 2 or more business names under one ABN? for example: Tom’s bananas and Tom’s tools
thank you
Tom

Thanks for reading.

Yes, you can sell your business (eg. property, premises, etc), but selling the “business name” is not always a simple matter. As a sole trader, you cannot sell “you”. So things like that depend on whether you have certain rights associated with your business name – the sort of rights that you can get from trademark registration, as an example.

Of course, I’m simplifying the above matters greatly, so it’s best if you speak to an accountant or lawyer for any specific issues like this.

Hope that helps.