Understanding your business structure and what it means for your lodgment and payment obligations is critical. 

For example, not all businesses need to register for goods and services (GST) or pay as you go (PAYG) withholding or instalments. It’s important to know if and when you need to register, and what registration means for you and your business. 

This includes understanding:

• what you are required to register for and when (e.g. GST, PAYG withholding, PAYG instalments or other tax obligations)
• the types of lodgments and payments you’re required to make (e.g. business activity statement (BAS), income tax or company tax return)
• how often this needs to happen - monthly, quarterly or annually
• your due dates for both lodgment and payment (these are not necessarily the same).

If you have employees, you may also have super obligations. 

Having a clear picture of your tax and super responsibilities helps you plan ahead, meet your obligations and may help reduce the chances of falling into debt. 

Speaking with a registered tax professional can also help you get things right from the start.