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Banyule Youth Services Creatives For Hire > Resources

02. Goods and Services Tax (GST)

Goods and Services Tax (GST) is a tax of 10% on most goods, services and other items sold or consumed in Australia. If your business is registered for GST, you have to collect this extra money (one-eleventh of the sale price) when invoicing for products or services. You pay this to the Australian Taxation Office (ATO) when it’s due – more on this on the ATO website.

If you are engaging in a part-time activity, there is the question of whether it is a business or a hobby. If you are not sure, use these guidelines to determine if it is considered a business or hobby. For businesses that expect to remain below the threshold, registration is optional. However, a business that decides to register and continues to remain below the threshold amount will be required to report and pay GST.

You must register for GST if:

  • your business has a GST turnover of $75,000 or more
  • your non-profit organisation has a GST turnover of $150,000 or more
  • you provide taxi or limousine travel (including ride-sourcing services like Uber, GoCatch, Didi or OLA) regardless of your GST turnover
  • you want to claim fuel tax credits for your business, regardless of your GST turnover

Click HERE for more information.

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More Resources To help Research and Plan your Business Idea

01. Statement of Supplier

If you don’t have an Australian Business Number (ABN), you may be eligible to provide a completed Statement by Supplier form along with your invoice

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03. Grants

Grants – also referred to as a bursary – are funds given out by private, public and not-for-profit organisations for a range of purposes. All

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04. Publishing & Licensing

What is music publishing? Music publishing is the management of copyrighted music that gets used commercially. This can be done independently or through utilising the

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05. Rights & Responsibilities

Rights As a business owner, you have the right of decision making for each and every aspect related to your business’ activity and processes. You

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06. Boundaries

Assess your personal boundaries first Seek help Setting boundaries at work may be as simple as seeking advice from managers, mentors, family or other workers

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07. Acting Professionally

Being a professional suggests that someone is qualified and practising in a definable area, having expertise based on a deep level of knowledge, and having

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08. Tax

How tax can impact a person or business Tax is money that is required by the government to be paid on the money you earn.

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09. Copyright

Copyright is a bundle of rights that apply to creative industry professionals in relation to their work (or their ‘Intellectual Property‘). Copyright is free, automatically

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10. Building a Business Plan

An essential part of starting your business is developing your business plan. This will include the operational, financial and marketing aspects of your business. This

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11. Quoting

A Quote is your estimated cost of your work based on the information you have about a project. If a customer accepts your quote, it

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12. Invoicing

Whether you’re providing a service as an individual or as a small business, invoicing is essential. An invoice is a document provided by the person

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13. Payment Options

No one type of payment is best – it will depend on the needs of your business and what your customer’s chosen payments methods are.

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14. Budgeting

Budgeting is the basis for all business success. It helps with both planning and control of the finances of the business. If there is no

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16. Electronic Press Kit (EPK)

Having an informative and professional promo package (commonly known as an Electronic Press Kit or ‘EPK’) can be the thing that sets you apart from

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More Resources To help you Register and Launch your business

01. Tax File Number (TFN)

Creating a Tax File Number (TFN) is easy and it’s free. It identifies you for tax and superannuation purposes with employers and the Australian Taxation

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03. Registering your Business

To make your business official you will need to follow these four steps to register your business. Step One: Create an ABN Step Two: Register

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04. Banking

How to choose and why research is important Although you may already have banking accounts for your own personal banking, if you’re registered as a

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05. Insurance

You will need to consider what insurance you will need if you’re operating as a sole trader or as a business. Without insurance, you may

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06. Busking Permits

Busking permits are necessary for most Local Government Areas, including Banyule City Council and the City of Melbourne. Consent from a parent or legal guardian

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07. Band Agreements

A band agreement states the rules under which band members should act and operate throughout the life of the band. These rules outline band member’s

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08. Branding

Branding, by definition, is a marketing practice in which a company creates a name, symbol or design that is easily identifiable as belonging to said

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09. Marketing

Marketing refers to activities a company undertakes to promote the buying or selling of a product or service. Marketing includes advertising, selling, and delivering products

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10. Building a Web Presence

Building a web presence and social media presence gives you the ability to widen your audience while interacting with customers or people that are interested

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11. Royalties

What are Royalties? Music royalties are paid to artists when their music is used by businesses or played live by themselves or others. These royalties

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12. Superannuation for Contractors

If you are a sole trader, you may be entitled to superannuation. What is Superannuation? Superannuation, or ‘super’, is money put aside by your employer

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