ABN Only

Let us register your ABN with the Australian Securities and Investment Commission (ASIC) in a few easy steps.

An ABN is the structure of choice for those who want the freedom to trade on their own – and call all the shots.


Sole Trader ABN

(One time cost)*

Package Inclusions

  • ABN Registration
  • GST and PAYG Reminder


  • 12-month access to Adminimiser (Business Dashboard)
  • Registration renewal reminders
  • Email Confirmation of your ABN number
  • Access to custom educational guides + resources

What it means to be a Sole Trader

A sole trader structure is a popular go-to for new businesses. It's the easiest and simplest way to get into business if you’re a one person show, because there isn't much legal hoop-jumping and it's the least expensive to start.

You are the owner and operator, so you’re in charge of the whole shebang. This means your ABN will be connected to your personal name and you will use your personal Tax File Number (TFN) for the business’s taxation, which will also be used when or if you choose to register for GST.

Compare Business Structures

What's The Difference

Compare Business Structures

Sole Trader
Ownership & Profits
A company is owned by shareholders, and run by directors - both could be you. Profits are shared.
You get total ownership and control of the business, and its profits.
Partners own and run the business together. You get joint control and profits.
Setup & Paperwork
Increased tax and legal formalities = more complex set-up process and ongoing paperwork.
Easy to set-up, simple to run.
Few tax and legal formalities = relatively simple to set-up and run.
High levels of regulation, with additional record-keeping requirements and other obligations.
Less formal or legal processes, with little ongoing red tape.
Less formal and legal processes, with little ongoing red tape.
Liability & Risk
Your liability is usually limited to your ownership share. Increased protection from risk to your personal assets.
You’re personally responsible for all debts incurred by your business, putting your personal assets at risk.
Partners responsibility for all debts incurred by the business (regardless of ownership share) putting your personal assets at risk.
Setup Cost
A company can be expensive to establish and maintain.
Establishment costs are low.
Establishment costs are low.
Raising Capital
Easier to attract funding and investors. Wider capital-raising opportunities.
Your ability to raise capital is limited.
You have greater borrowing capacity.
Tax Basics
Your personal income is taxed lower than the top personal tax rate. The company submits its own tax return, with good tax breaks to be had.
Your net profit is taxed at individual rates, or your overall income tax is calculated at personal rates.
You are taxed as an individual on your income from the partnership, but the business will also need to lodge a separate partnership tax return.

Pro's and Con's of being a ABN Only

Get excited about:

  • It’s all about you! You’re in complete control
  • Simple and inexpensive to set-up and run
  • You can register the business under your own name
  • You get all the profits, which are treated as your personal income
  • Little ongoing paperwork and red tape
  • Tax time is straightforward, just use your own tax file number (TFN)
  • No need to register for GST if you turn over 75k annually

But keep in mind:

  • You have complete responsibility for all business liabilities, like debts or claims
  • Increased liability means your personal assets could be at risk, i.e. your home
  • Working for yourself means it can be hard to take time off
  • Raising capital / getting finance can be tricky - and you’ll probably need cash to launch
  • Tricky to change ownership if you ever sell the business

Why being a sole trader is right for Sarah

Sarah Richardson

Sarah Richardson

Starting her Sole Trader Business

Sarah decided to start her own business after her hobby as a makeup artist took off. Operating as a Sole Trader was the cheapest way to get started compared with the other business structures. All she needed to do was register her ABN.

As the business owner, she’s not considered an ’employee’ and she pays herself a wage directly out of her profits. Any losses or expenses incurred by her business activities may be offset against other income earned, which may reduce her tax bill.

Running her Sole Trader Business

Trading a Sole Trader has been pretty easy,  but the one thing she realises is that she is legally responsible for all aspects of the business – it’s called unlimited liability. That means that if things go south, her personal assets are at risk and could be seized to pay any debts or meet liabilities.  She also needed to make sure she had the right insurance to protect herself against any damages she may cause as a result of her business activities.

Being self-employed is probably the best thing that’s ever happened to Sarah. She has the freedom to do what she wants, and run her business as she chooses – minus a fair bit of the red tape and compliance that comes with running a company.

Growing her Sole Trader Business

Sarah plans to hire staff to help her grow the business, which she can do as a Sole Trader.  She can also change her business structure later on if she wants to scale up.

Register your ABN today

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What's The Difference

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