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Incorporating a company is relatively cheap ($450AUD) and the last time I did it, it was done <10 minutes. All you need to do is scan and email through some ide

Incorporating a company is relatively cheap ($450AUD) and the last time I did it, it was done <10 minutes. All you need to do is scan and email through some identification, nominate the directors, and set the allocation of shares. Most online "company incorporation" providers send you all the material to conduct your first meeting of directors and the Corporations Act provides a standardized set of "replaceable" rules that you can use as is, or modify to form your company's constitution. You can then register with the ATO (<10 minutes) and you're all done: ACN and TFN. Summary: In Australia <$500 and <20minutes gets you a Pty. Ltd. from your couch at home.

gregsq 14y ago
Thanks for that. I only had a cursory look at starting a company with an ABN when in Australia. It was a few years ago, but I was initially shocked at the difference. In the UK it's £20 to register a private limited company, £15 for the annual return, and that's it for companies house. Inland revenue and employment is extra, but it's cheap to set up trading companies in the UK. And the more of those you have the more likely you are to have competitive pressures in retail. I'm no expert on Australia's seemingly top heavy retail structure. Maybe it's just an incorrect impression I have that the top end of town gets accommodated, but that the rest have lots of hoops to jump through.