Setting up business without TFN!
Aug 24th 2004, 10:59 am
#1
Forum Regular
Thread Starter
Joined: Jun 2004
Location: Brisbane
Posts: 44
Setting up business without TFN!
Hi all,
I wish to set-up my own sole trader company in Australia as soon as I enter the country in order to continue working in Australia for my current employer as a free-lancer. However, there is not much time between my arrival and the start of the free-lancing contract. Basically, I have about two weeks to start-up my company and the like. I have browsed the sites where you register for the TFN and the ABN but I have some questions that I hope can be answered by you guys.
First thing for me to do is to apply for a TFN. This can be done on-line and you'll get your TFN number within 28 days (other threads say it will probably take about 1 or 2 weeks). Now, that might just be enough time because applying for an ABN is (hopefully and according to their website) a piece of cake. You'll get the ABN details immediately at the end of your online application.
I've also read on the web-site for the ABN that you do not have to supply your TFN number when you register your business. So, in theory, I can apply for an ABN while my TFN is still being processed, or am I wrong. Is this also true for sole trader businesses as they normally use your personal TFN for the business also? Are there implications associated by not providing the TFN during registration? And can (or should) you add your TFN number to your ABN details as soon as you have been acknowledged of you TFN number?
I wish to set-up my own sole trader company in Australia as soon as I enter the country in order to continue working in Australia for my current employer as a free-lancer. However, there is not much time between my arrival and the start of the free-lancing contract. Basically, I have about two weeks to start-up my company and the like. I have browsed the sites where you register for the TFN and the ABN but I have some questions that I hope can be answered by you guys.
First thing for me to do is to apply for a TFN. This can be done on-line and you'll get your TFN number within 28 days (other threads say it will probably take about 1 or 2 weeks). Now, that might just be enough time because applying for an ABN is (hopefully and according to their website) a piece of cake. You'll get the ABN details immediately at the end of your online application.
I've also read on the web-site for the ABN that you do not have to supply your TFN number when you register your business. So, in theory, I can apply for an ABN while my TFN is still being processed, or am I wrong. Is this also true for sole trader businesses as they normally use your personal TFN for the business also? Are there implications associated by not providing the TFN during registration? And can (or should) you add your TFN number to your ABN details as soon as you have been acknowledged of you TFN number?
Aug 24th 2004, 11:02 am
#2
I don't re Member
Joined: May 2004
Location: Termite Country (Tanah Merah)
Posts: 1,372
Re: Setting up business without TFN!
Originally Posted by ssinnige
Hi all,
I wish to set-up my own sole trader company in Australia as soon as I enter the country in order to continue working in Australia for my current employer as a free-lancer. However, there is not much time between my arrival and the start of the free-lancing contract. Basically, I have about two weeks to start-up my company and the like. I have browsed the sites where you register for the TFN and the ABN but I have some questions that I hope can be answered by you guys.
First thing for me to do is to apply for a TFN. This can be done on-line and you'll get your TFN number within 28 days (other threads say it will probably take about 1 or 2 weeks). Now, that might just be enough time because applying for an ABN is (hopefully and according to their website) a piece of cake. You'll get the ABN details immediately at the end of your online application.
I've also read on the web-site for the ABN that you do not have to supply your TFN number when you register your business. So, in theory, I can apply for an ABN while my TFN is still being processed, or am I wrong. Is this also true for sole trader businesses as they normally use your personal TFN for the business also? Are there implications associated by not providing the TFN during registration? And can (or should) you add your TFN number to your ABN details as soon as you have been acknowledged of you TFN number?
I wish to set-up my own sole trader company in Australia as soon as I enter the country in order to continue working in Australia for my current employer as a free-lancer. However, there is not much time between my arrival and the start of the free-lancing contract. Basically, I have about two weeks to start-up my company and the like. I have browsed the sites where you register for the TFN and the ABN but I have some questions that I hope can be answered by you guys.
First thing for me to do is to apply for a TFN. This can be done on-line and you'll get your TFN number within 28 days (other threads say it will probably take about 1 or 2 weeks). Now, that might just be enough time because applying for an ABN is (hopefully and according to their website) a piece of cake. You'll get the ABN details immediately at the end of your online application.
I've also read on the web-site for the ABN that you do not have to supply your TFN number when you register your business. So, in theory, I can apply for an ABN while my TFN is still being processed, or am I wrong. Is this also true for sole trader businesses as they normally use your personal TFN for the business also? Are there implications associated by not providing the TFN during registration? And can (or should) you add your TFN number to your ABN details as soon as you have been acknowledged of you TFN number?
Drop him a line, he is in Brisbane bayside area and you can find his posts on this board. He has his own web site too.
Andrew
Aug 25th 2004, 6:58 am
#3
Migration Agent
Joined: May 2002
Location: Offices in Melbourne, Brisbane, Perth, Geelong (Australia), and Southampton (UK)
Posts: 6,459
Re: Setting up business without TFN!
If you would like to discuss the issues you have raised with one of my Chartered Accountant colleagues who is based in Brisbane please let me know by sending me an email (alan - at - gomatilda - dot - com) ... he can set up a company for you pending your arrival if you wish (as you may know already, a company that is incorporated in Australia needs an Aussie resident director).
You also need to consider registration for the GST, and - probably the most important issue - the most appropriate business structure for you.
Good luck!
You also need to consider registration for the GST, and - probably the most important issue - the most appropriate business structure for you.
Good luck!
Originally Posted by ssinnige
Hi all,
I wish to set-up my own sole trader company in Australia as soon as I enter the country in order to continue working in Australia for my current employer as a free-lancer. However, there is not much time between my arrival and the start of the free-lancing contract. Basically, I have about two weeks to start-up my company and the like. I have browsed the sites where you register for the TFN and the ABN but I have some questions that I hope can be answered by you guys.
First thing for me to do is to apply for a TFN. This can be done on-line and you'll get your TFN number within 28 days (other threads say it will probably take about 1 or 2 weeks). Now, that might just be enough time because applying for an ABN is (hopefully and according to their website) a piece of cake. You'll get the ABN details immediately at the end of your online application.
I've also read on the web-site for the ABN that you do not have to supply your TFN number when you register your business. So, in theory, I can apply for an ABN while my TFN is still being processed, or am I wrong. Is this also true for sole trader businesses as they normally use your personal TFN for the business also? Are there implications associated by not providing the TFN during registration? And can (or should) you add your TFN number to your ABN details as soon as you have been acknowledged of you TFN number?
I wish to set-up my own sole trader company in Australia as soon as I enter the country in order to continue working in Australia for my current employer as a free-lancer. However, there is not much time between my arrival and the start of the free-lancing contract. Basically, I have about two weeks to start-up my company and the like. I have browsed the sites where you register for the TFN and the ABN but I have some questions that I hope can be answered by you guys.
First thing for me to do is to apply for a TFN. This can be done on-line and you'll get your TFN number within 28 days (other threads say it will probably take about 1 or 2 weeks). Now, that might just be enough time because applying for an ABN is (hopefully and according to their website) a piece of cake. You'll get the ABN details immediately at the end of your online application.
I've also read on the web-site for the ABN that you do not have to supply your TFN number when you register your business. So, in theory, I can apply for an ABN while my TFN is still being processed, or am I wrong. Is this also true for sole trader businesses as they normally use your personal TFN for the business also? Are there implications associated by not providing the TFN during registration? And can (or should) you add your TFN number to your ABN details as soon as you have been acknowledged of you TFN number?
Aug 25th 2004, 8:31 am
#4
Forum Regular
Thread Starter
Joined: Jun 2004
Location: Brisbane
Posts: 44
Re: Setting up business without TFN!
Originally Posted by Alan Collett
If you would like to discuss the issues you have raised with one of my Chartered Accountant colleagues who is based in Brisbane please let me know by sending me an email (alan - at - gomatilda - dot - com) ... he can set up a company for you pending your arrival if you wish (as you may know already, a company that is incorporated in Australia needs an Aussie resident director).
You also need to consider registration for the GST, and - probably the most important issue - the most appropriate business structure for you.
Good luck!
You also need to consider registration for the GST, and - probably the most important issue - the most appropriate business structure for you.
Good luck!
All in all I believe that setting up a company can be done in two or three weeks. I'll keep you all posted about the processes when I am busy with it as it might help others on the forum too who wish to setup their company.
Thanks again.
Aug 25th 2004, 8:51 am
#5
MODERATOR
Joined: Nov 2002
Location: Redneck Wonderland
Posts: 9,932
Re: Setting up business without TFN!
Originally Posted by ssinnige
Thanks for the offer, but I have talked to my employer and the starting dates of the agreement are not fixed. Basically, as soon as I have the company in place then the agreement will be finalised. So, I think I jumped the gun a bit.
All in all I believe that setting up a company can be done in two or three weeks. I'll keep you all posted about the processes when I am busy with it as it might help others on the forum too who wish to setup their company.
Thanks again.
All in all I believe that setting up a company can be done in two or three weeks. I'll keep you all posted about the processes when I am busy with it as it might help others on the forum too who wish to setup their company.
Thanks again.
When we arrived last year we applied online, the TFN was received within 7 days. ABN should you require one is instantly issued as is the GST registration you do need the TFN to apply for the ABN though
Aug 25th 2004, 9:18 am
#6
Forum Regular
Thread Starter
Joined: Jun 2004
Location: Brisbane
Posts: 44
Re: Setting up business without TFN!
Originally Posted by cresta57
Hi,
When we arrived last year we applied online, the TFN was received within 7 days. ABN should you require one is instantly issued as is the GST registration you do need the TFN to apply for the ABN though
When we arrived last year we applied online, the TFN was received within 7 days. ABN should you require one is instantly issued as is the GST registration you do need the TFN to apply for the ABN though
Who needs a holiday 
? At least I have flexible hours to work so can take time off when I need or work at times when there is nothing on the telly (which is probably the case every night considering the amount of ad-breaks).
