Have you located all the red tape relating to your business?
There is an ever mounting pile of red tape that businesses must adhere to. Many business owners are simply not aware of all that exists.
These include local council permits required to run certain businesses types or Payroll Tax that creeps up on you when you’re busy working away with your head down. In many cases just playing the radio at your business can cause you issues as you could have to pay APRA a licence fee. Businesses increasingly find themselves falling foul of rules they weren’t aware applied to them. This is mainly because those rules are spread out and not easy to locate.
Whats the solution?
To start with you should be using a trusted Chartered Accountant that does more than just crunch numbers! Now there’s also a new free service available that attempts to collate all that information into one helpful site. Australian Business Licence and Information Service (ABLIS) have a nifty page where you enter your area and industry details then answer some specific questions relating to your business. Then as easy as 123 many of the possible government licences, permits, approvals, registrations, codes of practice, standards and guidelines you need to know about to meet your compliance responsibilities are presented to you to sift through.
As their website states ” If you are starting, operating, growing, or closing a business, ABLIS will reduce the run-around and give you the time to get on with business.”
Best of all its free!
Click the below link to check your obligations now:
https://ablis.business.gov.au/pages/home.aspx
Graham Downs of Downs Accounting is a Chartered Accountant, Financial Advisor, Registered Tax Agent, ASIC Agent, has an Accounting and Business Law Degree, Diploma of Financial Planning and is a member of the Institute of Automotive Mechanical Engineers by examination.
