Business Setup & Registrations
Getting the foundations right when you start a business makes everything easier from that point forward. The wrong structure, a missing registration, or a poorly drafted trust deed can create tax headaches, compliance gaps, and personal liability risks that are expensive to fix later.
At Taxcor, we help new and existing businesses set up correctly from day one. Whether you need a simple ABN registration or a complete company formation with all associated tax registrations, we handle the detail so you do not have to.
Minimise your tax
Professionally managed
Grow your wealth
Protect your assets
TFN Registration
A Tax File Number (TFN) is a unique identifier issued by the ATO for tax administration purposes. Different entities require their own TFN, including individuals, companies, trusts, partnerships, and SMSFs. A TFN is generally required to lodge tax returns, open certain business bank accounts, and meet ATO obligations.
Example: A newly incorporated company must apply for its own TFN because it is a separate legal entity for tax purposes — the director’s personal TFN cannot be used for the company.
We assist businesses and entities with TFN applications and ensure registrations are aligned with your business structure from the outset.
ABN Registration
An Australian Business Number (ABN) is the 11-digit identifier used for all business and tax purposes in Australia. Most businesses require an ABN to issue invoices, register for GST, deal with suppliers, and avoid PAYG withholding on payments received from other businesses.
To obtain an ABN, the ATO requires evidence that you are genuinely carrying on or starting an enterprise. ABNs may be refused or cancelled where business activity is not genuine or the application does not meet the relevant tests.
We assist with ABN registrations quickly and accurately, and ensure your business structure and associated tax registrations are set up correctly together.
GST Registration
GST is a 10% tax on most goods and services sold in Australia. Businesses must register once annual turnover reaches $75,000 ($150,000 for non-profit organisations). Some businesses choose to register voluntarily below this threshold.
An important exception applies to taxi, limousine, and ride-sourcing drivers (including Uber). These operators must register for GST from the very first day they provide passenger transport services, regardless of income.
Once registered, businesses must lodge BAS statements, report GST collected on taxable sales, claim GST credits on eligible expenses, and retain proper tax invoices and records. We assist with GST registrations, BAS setup, reporting advice, and compliance support.
Company Formation
A company is registered under the Corporations Act 2001 and regulated by ASIC. It is a separate legal entity that can own assets, enter contracts, incur debts, and continue operating regardless of changes in ownership or management.
Company formation generally includes:
Preparation of the company constitution
ASIC company registration and ACN allocation
ABN registration
TFN registration
GST registration (if required)
PAYG withholding registration
Example: Two business partners launching a technology consulting firm choose a company structure to separate personal assets from business risks and build a scalable foundation for future growth.
We provide complete company formation services, together with practical advice on structure selection, taxation, and ongoing compliance obligations.
Business Name Registration
If you trade under a name other than your own legal name (or the company’s registered name), that trading name must generally be registered with ASIC. Registration does not create a separate legal entity and does not provide trademark protection.
Example: If John Smith operates as a sole trader trading as 'Western Sydney Plumbing Solutions', the business name must be registered with ASIC because it differs from his personal legal name.
Before registering a business name, it is worth checking trademark availability, website domain availability, and whether the name is consistent with your branding and business plan. We assist with business name registrations, renewals, and ensuring your ASIC and ABR details remain consistent.
Trust Setup
A trust is a legal structure in which a trustee holds and manages assets or income on behalf of beneficiaries. Trusts are commonly used for asset protection, family wealth management, business operations, and tax planning.
Common trust types include discretionary (family) trusts, unit trusts, and hybrid trusts. Setting up a trust generally involves:
Trust deed preparation
Trustee appointment (individual or corporate trustee)
ABN, TFN, and GST registration
Business name registration (if required)
The trust deed is the most important document in the structure — it governs how the trust operates, who the beneficiaries are, and what powers the trustee has. Getting this right from the start is essential. We provide trust establishment services together with practical advice on trustee structures, compliance obligations, and long-term planning.
SMSF Establishment
An SMSF is a private superannuation fund regulated by the ATO, where members manage their own retirement investments. SMSFs can invest in shares, managed funds, term deposits, commercial property, and in some cases residential property through Limited Recourse Borrowing Arrangements.
SMSF establishment generally includes:
Corporate trustee registration (strongly recommended)
SMSF trust deed preparation
ABN and TFN registration
Superannuation fund registration with the ATO
Investment strategy preparation
Bank account establishment assistance
Electronic Service Address (ESA) registration for employer contributions
Fund rollover or transfer coordination
SMSF trustees carry significant ongoing compliance obligations. Before establishing an SMSF, it is important to carefully consider fund balance, ongoing administration costs, and trustee responsibilities. We assist with SMSF setup, compliance registrations, and ongoing accounting and taxation support.