Company Registration
Cube Accounting will form a company per your instructions upon receipt of the entity order forms and set-up fees.
The company must have at least one director who must be ordinarily residents of Australia.
Once the company is incorporated the company will need to apply for a Tax File Number (TFN), an Australian Business Number (ABN), and register as an employer (if applicable) with the Australian Taxation Office (ATO).
Once the company is established, a bank account can be opened. The bank will require a copy of the company’s constitution and certificate of incorporation. Bank account forms need to be signed by all signatories of the proposed account.
Ongoing Administration
If the company employs staff, it will need to register with the ATO as an employer and deduct and remit appropriate PAYG withholding from salary payments. We can manage this process for you (we perform similar services for a number of companies).
The company will need to submit annual income tax returns to the ATO.
If the company turnover is over $75,000 p.a. the company will also have to register for Goods & Services Tax (GST), and have to complete quarterly or monthly (depending on the size of the company) Business Activity Statements (BAS). Once the company/trust has lodged its first income tax return, it may also be required to pay an installment for income tax on their BAS. This process is included in our accounting packages, if you have not signed up for our packages and would like to know more, please contact us and we will be happy to discuss your options.
If your company is registered for GST, there are certain requirements in regards to the form your company’s invoices must take (which can be discussed at a later date if required).
Bank Account Details
Once the Company is created, please proceed to open a bank account for the Trust. When you have the bank details, you must instruct us at your earliest convenience. This will facilitate GST refunds.
Details required
- Fill in the Company Order Form (next page)
- Fill in Tax Registration Form (next page)
We will require payment before commencing the formation of the entities. Thank you for choosing Cube Accounting.