These are exciting times. You are just about ready to open your new business. You’ve been busy setting up all of the systems that you need for your business to work – including the bookkeeping. You know that proper bookkeeping will give you the best perspective on how your business is performing. It’s not glamorous, but it’s very important. It can also be very confusing for first-time business owners.
This is where many owners succumb to pitfalls while setting up their business. Because there are many forms to file and BAS regulations to follow, things can sometimes be missed. One such thing is GST registration. It’s surprising how many Gold Coast start-ups fail to register for GST. If you are just starting your business, it could be very beneficial to register for GST. Let’s look at a few reasons why that is. Continue reading