A sole trader is an individual operating a registered business. A sole trader may utilise their own personal Tax File Number to lodge any income tax returns and will require an ABN if they have a registered business name.
A partnership is a group or association of people who operate a business and distribute income or losses between themselves. A partnership has its own Tax File Number and must hold an ABN which is used for the business dealings.
To set up a membership and accounts for your sole trader or partnership, you will need to provide original or original certified copies of the following documents.
1. Business extract issued by ASIC, dated within last 30 days.
2. Idenification documents - all business owners must attend a branch with the required documents and primary photo identification or return certified copies to PO Box 8609, Perth BC 6849.
3. Complete and sign a non personal membership application form - and finalise your membership.
Download non personal membership application
Is the business owner a company?
If so, you'll also need to provide:
- a company extract issued by ASIC, dated within last 30 days.
- all company beneficial owners holding 25% or more of company shares will need to attend a branch with primary photo identification.
- a share certificate and trust deed if a trust is the shareholder of your company.
Is the business owner a formal trust or superannuation fund?
If so, you'll also need to provide:
- a full copy of the signed and executed trust deed,
- all trustees and appointers will need to attend a branch with primary photo identification.
For more information, please contact us on 13 25 77 or visit your nearest branch.