Tuesday, August 3, 2010

Exercise 1

Part A

Australian Business Number Registration (ABN)

Register at the Australian Taxation Office
Free
Registration is ongoing

Business Name Registration

Register with Business Names and Associations - ACT Office of Regulatory Services
Application: $146 (3 years); $214 (5 years)
Renewal: $123 (3 years); $192 (5 years)
Variation: If lodged within 14 days of the change: $8; If lodged within one month after 14 days: $21 If lodged any date thereafter: $43.
Duplicate certificate: $15
Apply and reapply every 3-5 years

Goods and Services Tax (GST) Registration
Register at the Australian Taxation Office
Free
Registration is ongoing
Only neccessary if you believe your business will earn over $75000 in the financial year

Business Insurance
Public liability insurance
Insurance for camera equipment - theft, breakage etc

Insurance for equipment = ~$335.50 for 1 year (http://www.photoinsurance.com.au/index.php) viewed 27 Jul 2010
Public liability available from here however cost is unknown.

Part B

There are approximately 240 photographers/photography businesses in the Canberra region*

There are approximately 100 wedding photographers in the Canberra region*

*Information gathered from www.sensis.com.au viewed 27 Jul 2010