Running A Business In Australia

[JimmyRecard]

Hello all

I am planning on starting a personal training business soon where I will be the only employee or the only employee for the first year or two. Now if I intend the business to save all of it's profits for the first year so I don't pay myself a wage I don't have to register for PAYG yet do I? as I am not paying anyone? Also on another note. If I registered as a sole trader in which case I can be the only employee is it if I earn more then $75000 in combined income from my business and my job I have to register for GST and BAS?

Cheers

 

[Chuke]

just check with ATO ,as i remember (used to live in sydney for few years) if you register as sole trader/home biz you still need to register for biz tax nummer (good deduction on tax return as you can deduct somebills phone,electrical,home loan from it)

 

[JimmyRecard]

just check with ATO ,as i remember (used to live in sydney for few years) if you register as sole trader/home biz you still need to register for biz tax nummer (good deduction on tax return as you can deduct somebills phone,electrical,home loan from it)

Yeah I know either way I have to register for a ABN but I want to know if I register as a sole trader and my business + salary from my normal job = more then $75,000 do I have to register for GST or is it only if my business earns more then $75,000