Australia · Independent guide
Sole trader setup checklist
As a sole trader you use your own TFN, get a free ABN, register a business name if you trade under anything other than your own name, and register for GST once your turnover reaches the threshold. Set aside money for tax — none is withheld.
Official site: business.gov.au — Sole trader ↗
Checklist
- Confirm it's a business, not employment.
- Apply for an ABN (free).
- Register a business name with ASIC if not using your own name.
- Check whether you must register for GST.
- Open a separate bank account.
- Plan for tax (PAYG instalments may apply) and consider voluntary super.
- Check licences and insurance for your industry.
- Keep records for five years.