Hey everyone, i've been on these forums for almost two years now and thought I would start my first thread.
Me and a good mate of mine have been running a business together for the last 3 years, we mainly ran it from home but have just outgrown our homes and need a factory. We have found a brand new factory which is just under 200sqm in the outer eastern suburbs of Melbourne and have negotiated the price down to $1600 per sqm. We have factored in GST and Stamp Duty so far, and obviously fit out costs for the equipment we will need, and also the rates.
We are currently in the process of registering a company and have been doing all our own accounting so far, but are also looking for a good accountant. We both have full time jobs, and have been running this as a side business.
Now I understand I haven't given much specific information but I was wondering if anyone can give any advice on anything we should look out for, or can give any type of information on how to set ourselves up for tax purposes, I understand an accountant can answer alot of our questions but though I will ask here first.
Thanks in advance!
Me and a good mate of mine have been running a business together for the last 3 years, we mainly ran it from home but have just outgrown our homes and need a factory. We have found a brand new factory which is just under 200sqm in the outer eastern suburbs of Melbourne and have negotiated the price down to $1600 per sqm. We have factored in GST and Stamp Duty so far, and obviously fit out costs for the equipment we will need, and also the rates.
We are currently in the process of registering a company and have been doing all our own accounting so far, but are also looking for a good accountant. We both have full time jobs, and have been running this as a side business.
Now I understand I haven't given much specific information but I was wondering if anyone can give any advice on anything we should look out for, or can give any type of information on how to set ourselves up for tax purposes, I understand an accountant can answer alot of our questions but though I will ask here first.
Thanks in advance!