Partnership ABN Registration
Are you starting up a business with other people?
If you want the simplest, lowest cost option (without caring about the benefits that come from a company) then you could be wanting to register your ABN as a Partnership.
This simply means that the debts and liabilities of the business are the joint responsibility of each partner.
Essential steps are:
- securing an Australian Business Number (ABN) for the partnership
- registering a TFN for the partnership
We also recommend that you seek professional advice about making clear the arrangement between the owners.
Partnerships often trade under the names of the individual partners. Or they can create and register a business name to represent them. These should be registered with the state authorities. (For more information on this call us on 1800 347 845)