It seems that there is opportunities out there to make money, so I am guessing to stay on side with the tax man I need an ABN number.

What the deal? Where do I go, how much and what are the implications of being employed full time already and already paying tax?

I will obviously do proper research, but how about you guys give me some quick tips to get the ball rolling.

It's all here - ATO (tax office) Starting a New Business

One tip: do NOT register for GST unless you absolutely HAVE to (i.e. once your annual gross income tops $50,000), or you'll join the endless, mindless circle of BAS form fillers. :rolleyes: :irked:

I got my ABN on line (it's free) not sure about the tax implications, probably easiest to use an accountant and let them have the headache of sorting everything out!!!

I just keep a file of all my receipts/income etc. (and dont forget utility bills can be claimed in part if you work from home) and save all the details in Excel so they have all the figures in front of them and just have to work it out.

I love tax here, you can claim for loads of stuff even if you're employed and PAYE!! :thumbsup:

Thanks, thats that done.

So I guess to register a company and a trading name, I need to go somewhere else.

Manx, registering a company and registering a business name are two entirely different things. Using a trading name if different again! :rolleyes:

For company 'stuff' you need to go to the ASIC website.

For a registered business name, go to the government business website.

Anyone can use a 'trading name' without registering it, but you'd need an ABN. For example, you could be 'Joe Bloggs trading as Bloggs Lawn Mowing' without anything more than an ABN.

There are numerous advantages and/or disadvantages to this whole topic, so my advice is to be careful and do your research well before you start anything. ;)

Thanks PR.