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Company Registration in Australia
Company Secretarial Services in Australia
Accounting and Bookkeeping Services in Australia
Australia
→ Business Incorporation in Australia
→ Benefits of Incorporating a Company in Australia
→ Who We Are
→ Why Us?
→ Benefits of Incorporating a Company in Australia
→ Who We Are
→ Why Us?
Australia, officially known as the Commonwealth of Australia, is one of the world's most highly urbanized countries. Bordered to the west by the Indian Ocean and to the east by the South Pacific Ocean, Australia is famous for its beaches, wide open spaces, and deserts. Australia is an important exporter of agricultural goods like wool, wheat, beef, fruit, and wine. The country is also rich in minerals and metals and is the world's fourth largest producer of gold. It is a unique and diverse country in every way – culture, population, history, climate and geography.
Business Incorporation in Australia
1. Sole Trader This is one of the least expensive options as it involves just one person who controls all business-related decisions. A company's income (including capital gains and dividends) is taxed at the rate of 30% in Australia. A tax-free threshold doesn't apply. And all the business documentation must be maintained for 5 years. The new financial year in Australia starts on 1st of July, therefore, the tax returns must be submitted before June 30th. If your business's annual turnover exceeds 75k AUD, you need to get registered for paying the Goods and Services Tax.
2. Limited Liability Partnership This type of business entity allows one to join hands with multiple people and share income. However, all the partners are personally responsible for business debts and actions against the partnership. And before registration, the agreement should involve role specification, measures of liability, and authorities of all the partners.
3. Trust It is a business formation whose profit is given to the beneficiaries. It implies a trustee (either an individual or a company) who manages trust's assets, does business and distributes profits in the favor of beneficiaries according to the written document called the trust deed. If the trust does business under a name other than its own, the name must be registered as a business name with ASIC (Australian Securities and Investment Commission).
4. Private Limited Company This type of entity can be formed in Australia with only one shareholder, one director and no minimum paid-up capital and foreigners living outside Australia have to appoint at least one director living in Australia. Also, the PLC must appoint a public officer who is responsible for paying taxes and dealing with the country's tax office.
5. Branch Foreign corporations can register a local branch of their overseas company. Setting up a foreign company in Australia is simple as it only requires (i) appointment of a local agent allowed by the foreign company to accept services on behalf of the foreign company and (ii) a registered address in Australia. The annual financial statement of the branch must be submitted to the Australian Companies Registrar (ASIC).
6. Representative Office If a foreign company located in Australia does not intend to carry on business in Australia may seek an Australian Representative Office. Such an office must however only engage in activities which will not amount to carrying on the business.
Benefits of Incorporating a Company in Australia
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A company in Australia enjoys the following advantages:
→ With over two decades of uninterrupted economic growth,
→ Australia provides a safe, low-risk environment for trade and business.
→ The Australian labor force is one of the most educated, skilled, multicultural and multilingual in the world.
→ For six years in a row, Australia has been ranked third on the Index of Economic Freedom.
→ It is ranked 10th for ease of doing business and fourth when compared to economies with a large population.
→ Due to its strategic geographical location, the nation has a longstanding trade, investment, and cultural links with the fast-growing Asia-Pacific region.
→ The government of Australia is pro-business and has numerical support services for start-ups.
Who We Are
Business Setup Worldwide is a platform to help you start your business in Australia. We help you in setting up your business by providing a wide range of services like company formation, registration, company secretarial services, intellectual property and accounting and book-keeping. Doing business in Australia can be challenging if you are not aware of the rules and regulations as well as the business setup procedures. But fret not – our team of experienced advisors and consultants in Australia can help you out with the legal and business formalities of starting a business in Australia with the most appropriate corporate and income tax setup, to fast-track the growth of your company.
Why Us?
Business Setup Worldwide is a platform to help you start your business in Australia. We help you in setting up your business by providing a wide range of services like company formation, registration, company secretarial services, intellectual property and accounting and book-keeping. Doing business in Australia can be challenging if you are not aware of the rules and regulations as well as the business setup procedures. But fret not – our team of experienced advisors and consultants in Australia can help you out with the legal and business formalities of starting a business in Australia with the most appropriate corporate and income tax setup, to fast-track the growth of your company.
Frequently Asked Questions
Q- How to copyright a name in Australia?
One cannot register a copyright in Australia. Copyright protection is free and automatic from the moment your work is on paper, or disk, or otherwise put into "material form".
Q- What does the examination in registered design in Australia cover?
The examination includes a search of prior art and checks against similar products/designs. If your design is found to be new and distinctive you will receive a certificate of examination.
Q- What is the difference between registered and published designs in Australia?
Registered designs can be made enforceable by certification, and carry exclusive rights. Published designs do not give any rights.
Q- Can you convert an innovative patent to a standard patent a few years after obtaining the same in Australia?
No. It is only possible to convert an innovation patent application to a standard patent application prior to acceptance which takes approximately 4 to 8 weeks from filing.
Q- When to request examination on the standard patent application in Australia?
For standard patent applications, examination process is a compulsory element and must be conducted if you want a patent to be granted on your application. A request for examination must be made within 5 years of filing your application.
Q- What is Fringe Benefits Tax (FBT) in Australia?
It is a tax paid by an employer on certain benefits that are provided to an employee, including the employee's family and other associates. If you are a director of a company or trust, the benefits you receive may be subject to FBT.
