What are the main legal documents and registrations I’ll need when setting up an accounting business in Australia?
To set up an accounting business in Australia, you will need to prepare and register a variety of legal documents. Key requirements include:
- Registering your business name with the Australian Securities and Investments Commission (ASIC).
- Obtaining an Australian Business Number (ABN) and registering for Goods and Services Tax (GST) if required.
- Registering with the Tax Practitioners Board (TPB) as a tax agent, BAS agent, or tax (financial) adviser.
- Preparing a legally binding partnership agreement, shareholders agreement, or company constitution, depending on your chosen business structure.
- Ensuring compliance with relevant state or territory laws and local council regulations.
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