Starting a Business? 9 Essential Registrations You Can’t Ignore

There is nothing quite like the rush of starting your own business. You have the vision, the passion, and the drive to bring something new to the market. But then, reality hits. The mountain of paperwork, the acronyms—ABN, TFN, GST, PAYG—and the nagging fear that you’ve missed a critical form that could land you in hot water with the Australian Taxation Office (ATO).

You are not alone in feeling this way. Navigating the regulatory landscape is one of the biggest hurdles for new business owners in Australia. In fact, compliance issues are a leading cause of stress for entrepreneurs, often distracting them from what they do best: running their business. It is not just about ticking boxes; failing to register for the right obligations can lead to hefty fines, missed tax deductions, and even legal battles over your brand name.

The good news? It doesn’t have to be a headache. Understanding exactly what you need—and when you need it—can transform that anxiety into peace of mind. By securing the right registrations upfront, you build a solid foundation that protects your assets and signals to your customers that you are a legitimate, professional operation.

In this guide, we will walk you through the nine essential business registrations you need to know about. We’ll cut through the jargon and clarify exactly what is required for your specific situation, so you can focus on growth rather than government forms.

1. Australian Business Number (ABN)

Think of the Australian Business Number (ABN) as your business’s fingerprint. It is a unique 11-digit number that identifies your business to the government and the community. While it is not technically compulsory for every hobby or tiny enterprise, it is practically essential if you want to be taken seriously.

Without an ABN, other businesses must withhold 47% of any payments they make to you and send it to the ATO. That is a massive hit to your cash flow that you want to avoid. Furthermore, you need an ABN to register for a website domain name ending in .au and to claim GST credits.

Key takeaways:

• Cost: It is free to apply through the Australian Business Register (ABR).
• Timing: Apply before you start trading or as soon as you establish your business structure.
• Tip: If you are a sole trader, you use your individual ABN. If you change your structure later (e.g., move from sole trader to a company), you will need a new ABN.

2. Tax File Number (TFN)

Most individuals already have a personal Tax File Number (TFN), but your business might need its own. This depends entirely on your business structure.

If you operate as a sole trader, you generally use your individual TFN for business tax purposes. However, if you are setting up a partnership, trust, or company, the business is considered a separate entity for tax purposes. This means it requires its own separate TFN to lodge tax returns.

Failure to obtain a TFN for your entity can result in the highest marginal tax rate being applied to your business income—a costly mistake that is easily avoidable.

You can apply for A TFN through the ATO Website or ABR Website.

Who needs it?

• Sole Traders: Use your personal TFN.
• Partnerships, Companies, and Trusts: Must apply for a separate business TFN.

3. Goods and Services Tax (GST)

This is one of the most common stumbling blocks for growing businesses. Goods and Services Tax (GST) is a broad-based tax of 10% on most goods, services, and other items sold or consumed in Australia.

You must register for GST if:

• Your business or enterprise has a GST turnover (gross income minus GST) of $75,000 or more.
• Your non-profit organisation has a GST turnover of $150,000 or more.
• You provide taxi or limousine travel for passengers (including ride-sourcing services like Uber) regardless of your turnover.

The 21-Day Rule:

A critical detail often missed is the timing. If your turnover has not yet reached $75,000 but you expect it to, or if you suddenly exceed the threshold, you must register within 21 days of reaching it.

Once registered, you are required to include GST in the price of your sales and issue tax invoices. You will also need to lodge Business Activity Statements (BAS) periodically. The upside? You can claim back the GST included in the price of your business purchases.

4. Pay As You Go (PAYG) Withholding

If you plan to hire staff, Pay As You Go (PAYG) withholding is non-negotiable. This system requires you to withhold a certain amount of tax from your employees' wages and send it directly to the ATO. This ensures your team meets their end-of-year tax liabilities without facing a massive bill.

However, PAYG withholding applies to more than just wages. You also need to withhold tax if you make payments to other businesses that haven’t quoted their ABN to you (the 47% rule mentioned earlier), or if you pay contractors under voluntary agreements.

When to register:

You must register for PAYG withholding before you make the first payment that is subject to withholding. This is usually done alongside your ABN or GST registration.

5. Australian Company Number (ACN)

This registration is specific to the company business structure (e.g., Pty Ltd). If you decide that a company structure offers the asset protection or tax flexibility you need, you will register with the Australian Securities and Investments Commission (ASIC).

Upon registration, ASIC issues you a unique nine-digit Australian Company Number (ACN).

The difference between ACN and ABN:

It is easy to confuse the two. Your ACN is your identifier for ASIC corporate monitoring, while your ABN is for ATO tax dealings. Interestingly, your company’s ABN effectively includes your ACN—it is usually the ACN plus two digits at the front.

You must display your ACN (or ABN) on a range of documents, including invoices, receipts, orders for goods, and business letterheads.

6. Business Licences and Permits

While tax registrations are handled federally, licences and permits are often managed at the state or local council level. These vary wildly depending on your industry and location.

For example:

• Hospitality: A café needs food safety supervisor certification, outdoor dining permits, and potentially a liquor licence.
• Trades: Electricians and plumbers require specific trade licences.
• Home-based businesses: You may need council approval to operate from a residential area.

How to check:

Don’t guess. Use the Australian Business Licence and Information Service (ABLIS) tool. It’s a free government resource where you enter your location and business type, and it generates a report of the licences you likely need. Operating without these can lead to your business being shut down, so this step is vital.

7. Domain Name and Website

In the digital age, your website is often your primary shopfront. While not a government requirement, securing your domain name is essential for protecting your brand identity.

If you want a .au domain (like yourbusiness.com.au), you must meet the "Australian Presence" test. Generally, this means you need an ABN, ACN, or a trademark that matches the domain name.

Why priority matters:

In 2022, strict rules were introduced regarding .au direct domains (e.g., business.au rather than business.com.au). Securing your digital real estate early prevents competitors or cyber-squatters from taking a name that implies they are you. It is a small investment of around $20-$50 per year that secures your digital legitimacy.

8. Business Name Registration

There is a common misconception that owning a company name or a domain name means you "own" that name for trading purposes. This is not the case.

Unless you are a sole trader operating under your exact personal name (e.g., "Sarah Jones"), you must register your business name with ASIC.

• If you are Sarah Jones trading as "Sarah Jones": No registration needed.
• If you are Sarah Jones trading as "Sarah Jones Consulting": You must register the business name.

Cost and renewal:

Registration is relatively affordable—currently around $44 for one year or $103 for three years (subject to indexing). This links your trading name to your ABN, allowing customers to verify who they are dealing with.

9. Trademarks and Patents

This is the final, and perhaps most overlooked, layer of protection. Registering your business name with ASIC does not give you exclusive ownership of that name. It simply allows you to trade. Another business could potentially use a similar name or logo unless you protect it as intellectual property (IP).

• Trademarks: Protect your brand identity—your name, logo, slogan, or even a distinct colour. If you have built a strong reputation, a trademark ensures no one else can piggyback on your success.
• Patents: Protect a new device, substance, method, or process that is inventive and useful.

While IP protection can be complex and sometimes costly, it is an investment in your business’s future value. If you are unsure whether you need this, visit IP Australia, consult with an IP lawyer or a specialised accountant is a smart move.

Why Registration Matters

It might feel like an endless checklist, but these registrations serve a purpose beyond bureaucracy. They are the pillars of a legitimate, compliant business.

1. Trust: Customers and suppliers are more likely to engage with a business that has a visible ABN and valid tax registration.
2. Protection: Structures like companies (ACN) and IP protections (Trademarks) separate your personal assets from your business risks.
3. Growth: You cannot claim GST credits, hire staff legally, or secure a commercial website without these foundations.

By ticking these boxes early, you avoid the "compliance catch-up" game later on—a game that is expensive, stressful, and entirely preventable.

Your Next Steps

Starting a business is a marathon, not a sprint. While the list above covers the essentials, every business is unique. Your structure, your industry, and your growth plans will dictate exactly which registrations are critical for you right now.

Don’t let the fear of paperwork stall your progress. If you are feeling overwhelmed by thresholds, entity types, or tax obligations, it is always worth speaking to a professional. A proactive accountant can handle the heavy lifting of these registrations for you, ensuring you are compliant from day one.

You have done the hard work of creating a business vision. Let’s make sure the foundations are strong enough to support it.

Looking for help with your accounting, bookkeeping or taxes? Mahler Advisory your Gold Coast small business accountant can help! Click the call button or schedule an online appointment to discuss your specific requirements and discover the optimal structure for your unique situation.

*Please note that the above information is general advice only. We recommend you seek advice from a specialist relevant to your personal situation. This information is correct at the time of publishing and is subject to change*

Tax laws and regulations can change over time, so it is important to stay informed about any updates or amendments that may affect your tax obligations. The Australian Taxation Office (ATO) is the authoritative source for the most up-to-date information regarding tax requirements and regulations in Australia.