Some benefits of officially being a business include:
- You can apply for an Australian Business Number (ABN) to use in your business transactions. You’ll need to use the ABN entitlement tool to check your entitlement before applying.
- You can register a .com.au website once you have an ABN.
- You’ll have access to government information, services and concessions for business.
- You can establish a business identity when selling to customers and other businesses.
- You can claim tax deductions for business expenses against your taxable income.
- It may give you the flexibility to manage your time and work your own hours.