Convert from QuickBooks to XeroStart a business in Australia from Overseas

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Start a Business in Australia from Overseas
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• Starting a business is exciting but can also be
  challenging if you are not prepared or are
  overseas. This guide will take you through each
  step of starting your own company in Australia
  and help make sure that all aspects are taken
  care of before launching into this new adventure
  in Australia!

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• 1. Make key decisions early on to avoid the
  hassles and headache later down the road
• Key decisions have an enormous impact on your
  business - these are the ones you want to make
  early, so they do not come back and bite you in
  the ass later. Some key questions include What
  licenses do I need? How much tax am I going to
  owe if this goes through, anyway? And what
  paperwork did someone else tell me was necessary
  but turns out not be at all...?

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• Decide on a business structure - There are many
  different legal entities you can choose from to
  run your small businesses, but it is important
  that the one chosen suit both yourself and what
  needs doing. It is also wise for an expert
  opinion before moving forward!
• When starting a business in Australia, it is
  important to find out if you are hiring an
  employee or contractor before entering contract
  negotiations. There are many benefits and
  drawbacks of each type that could affect your
  bottom line so make sure not only do they have
  the appropriate permissions but also know their
  legal status for taxation purposes as well!

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• 2. Plan your Business
• Business planning is the process of strategizing
  about your future and seeing how it all comes
  together. There are many aspects to this, but
  first you need to analyse yourself as an
  entrepreneur so that way can plan for what is
  ahead with clear eyes. Planning out your business
  gives you direction and keeps your business on
  track. You will also need a business plan if you
  seek finance.

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• One must also create your risk management plan -
  Having a good risk management plan in place will
  help guide the business decisions you make and
  reduce the impact of unexpected events on your
  business.

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• 3. Get the help you need
• Finding a way to stay afloat in business can be
  tough. We have got everything from general advice
  for entrepreneurs and other small-business
  owners, finance options no matter what level they
  are at - all combined with mental health support
  so your mind does not get too bogged down by
  worries or concerns!

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• Know the law - It is no secret that every
  business, whether it be big or small has legal
  requirements for running their company. If you do
  not protect themselves legally then you are
  exposing yourself to risk. An effective way
  starts off strong in this department is by
  speaking with a qualified professional about what
  you need and how best we can go about meeting
  those goals together
• Know your finances - It is essential to take
  charge of your business and know how you are
  going make the most out it. It could be a matter
  of life or death for some, so do not
  procrastinate - speak with an expert today!

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• 4. Register your business
• To make it official, you will need to register.
  This makes sure your business gets taxed at the
  right rate, avoids penalties, and protects your
  brand and ideas.
• Once you have decided on your legal structure
  (Company, Trust, Sole Trader), you are required
  to register

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• Australian business number (ABN) - An Australian
  business number (ABN) is unique to your business.
  Customers, suppliers, and the Australian Taxation
  Office (ATO) use this number to help identify
  your business. An ABN is free to register.
• Business name - A business name helps your
  customers identify your business from others. If
  your business name is different to your own name,
  you will need to register it.
• Tax registrations for your business - Not all
  taxes will apply to your business so it's
  important to know which taxes will apply before
  you register or seek professional help.

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• 5. Protect your business
• You invest too much time and money in your
  business to lose it. Protect your investment by
  planning.
• Manage work health and safety - As a business
  owner you are responsible for managing health and
  safety for you and your employees in the
  workplace.
• Understand business insurance - Insurance can
  help protect your business and your employees
  against the worst of situations. Find out which
  types of insurance are essential for your
  business and those you may want to consider.

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• 6. Prepare for tax
• Knowing when various lodgements are due is
  essential to staying on the right side of the
  ATO. As a starting point, we suggest that you put
  your BAS lodgements and Tax Return due dates in,
  as these are mandatory for all businesses.
  Getting on top of your taxes now can make things
  easier overall. It can help you avoid penalties
  and make sure your business is taxed at the
  correct rate.

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• Keep the records right - It's important to keep
  up with your records. A good record keeping
  system can help you get on top of the mountain,
  but also track progress and seek finance if
  necessary!
• Understand taxation for your business -
  Understanding tax requirements is important for
  making sure your business has the correct
  paperwork and avoids penalties. Get an overview
  of record keeping, registering with the
  government to file taxes as well as paying them
  when they are due!
• Learn how to lodge and pay for tax - You need to
  know what type of business structure you have and
  if a Business Activity Statement (BAS) is needed.

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• It's very important to have an experienced
  advisor guide you through the set-up of your
  business in Australia. Specially from overseas,
  iKeep Bookkeeping is well placed with the backing
  of one of the top accounting firm and access to
  the best legal advisor. If you are looking to set
  up business in Australia speak with one of our
  consultants today!