When starting a business, you will have several reporting requirements to fulfill. While the specific reporting obligations can vary based on the type and size of your business, here are some common reporting requirements: Tax Reporting: You will need to report your business income and expenses for taxation purposes. This typically involves filing regular business activity statements (BAS) or income tax returns with the relevant tax authority, such as the Australian Taxation Office (ATO). Employee Reporting: If you have employees, you will need to meet various reporting obligations related to payroll and superannuation (retirement savings). This includes reporting and remitting employee tax withholdings, providing payment summaries, and meeting superannuation guarantee requirements. Goods and Services Tax (GST) Reporting: If your business is registered for GST (required if your annual turnover exceeds a certain threshold), you will need to report and remit GST on sales, claim input tax credits on purchases, and submit regular BAS to report GST-related information. Financial Reporting: Depending on the legal structure of your business, you may have obligations to prepare and lodge financial reports. For example, companies may need to prepare annual financial statements and lodge them with the Australian Securities and Investments Commission (ASIC). Industry-Specific Reporting: Certain industries or business activities may have additional reporting requirements. For instance, businesses in the financial services sector might need to comply with specific reporting standards and regulations. Consult with one of Sleek’s accountants to understand the specific reporting requirements applicable to your business. They can guide deadlines, forms, and compliance obligations to ensure you meet all necessary reporting requirements.