Trennaa
Active Member
- Joined
- Sep 13, 2003
- Messages
- 1,609
- Reaction score
- 20
- Points
- 38
- Age
- 37
- Location
- Melbourne, AU
- Members Ride
- Qwerty
Okay, here's the deal.
I am going to be applying for an ABN to register a business (under my own name, not a business name).
My business is going to be for Mobile Entertainment (DJ for private functions - but legitimately).
I already know to go legitimate, I will need a number of licenses - PPCA, ARIA, to name a couple. All of which have expenses (some annually, some quarterly).
I will also need insurance(s) in order to operate for Private Functions - Public Liability for example.
My question/s:
I will probably have more questions as time goes on. I understand perfectly well I should obtain advice from a taxation accountant, or a business accountant, and I will probably have someone acting on my behalf down the track, but this is (what I would consider) pretty general information I can gain over a forum, rather than paying for an accountant at this stage.
Cheers y'all!
I am going to be applying for an ABN to register a business (under my own name, not a business name).
My business is going to be for Mobile Entertainment (DJ for private functions - but legitimately).
I already know to go legitimate, I will need a number of licenses - PPCA, ARIA, to name a couple. All of which have expenses (some annually, some quarterly).
I will also need insurance(s) in order to operate for Private Functions - Public Liability for example.
My question/s:
- If I register for an ABN, and DONT earn income on the ABN, so I still need to complete BAS statements?
- If I have an ABN, and obtain these licenses and insurances (lets say $500 worth in total), I understand I can claim these back as business expenses, as well as equipment expenses etc, however, how does this go when I may not earn an actual income through the business?
I will probably have more questions as time goes on. I understand perfectly well I should obtain advice from a taxation accountant, or a business accountant, and I will probably have someone acting on my behalf down the track, but this is (what I would consider) pretty general information I can gain over a forum, rather than paying for an accountant at this stage.
Cheers y'all!