About Us

While FACCS does not give Legal, Accounting or Financial Planning advice, we have tried to make this site easy to use and helpful for you. The FACCS site caters for new small business operators as well as very sophisticated professional advisers.

The following are some hints to get you going smoothly.

How do I do all the government stuff that is needed to get going in a small business?

If you would like FACCS to assist you, the following is very much a layman's introduction to one way of getting through the initial government maze. Please don't ask us why the following is so. We didn't write the rules and regulations. Also, please remember that your accountants or your lawyers can give you more detailed, expert and professional advice than you see here. Our intention is to give you a simple process that seems to have worked for many small businesses. If you don't like the suggestions here, please speak with your professional advisers and take their advice. There are many other ways of going about this. The following is the way our small business clients have said has worked for them.

The following are the basic steps.

1. Register as an authorised user on the FACCS web site. This only takes a couple of minutes.
2. Register a Business Name on the FACCS web site. Your business will get something similar to a "Certificate of Registration of a Business Name" and a Number - sometimes called a Business Registration Number OR
3. Form a Company on this site. The company will be issued with an ACN (Australian Company Number)
    
   NOTE: A "Certificate of Registration of a Business Name" , BRN or an ACN ARE NOT THE SAME AS AN ABN.
    
4. As soon as you have registered your business name or company, apply for an Australian Business Number ABN on the FACCS web site.
5. At the same time - as part of the same application as the ABN application - apply for a Tax File Number TFN for your business.
6. At the same time - as part of the same application as the ABN application - apply for GST registration for your business.
7. If you are employing staff then - as part of the same application as the ABN application - apply for PAYG registration for your business.
8. If you are an Individual and you want an ABN, then you will need your personal Tax File Number before you apply for an ABN thourgh FACCS. FACCS can not process an application for a Tax File Number from an individual.

• How do I get started using the FACCS web site?
• How do I get help?
• What special information should I have handy to form a company?
• What extra details do I need for TFN/ABN/GST/PAYG registrations?
• What details will I need to form a Discretionary Trust?
• What details will I need to form a Unit Trust?
• What details will I need to form a Hybrid Trust?
• What details will I need to form a Self Managed Superannuation Fund?

How do I get started using the FACCS web site?

1. Register as a FACCS customer once only. Every time from then on, the FACCS site will know your details when you come again.
2. Credit Terms
   • You will have the opportunity to apply for an account at the Client Administration page.
   • Until your account is approved, you will need your credit card.
3. Select and complete the Form you wish to Order
4. You can save a session at any time and come back to it later. Simply click on “SAVE SESSION” on the left hand panel.

How do I get help?

• If, at any stage while you are completing your order form and you are not sure of the answer to any question, simply click on the link next to the box for an explanation of its purpose and the information required to be entered.
• Click the “Close Window” button (X in top right hand corner) to close the information box and return to the form.
• Don’t worry. If you get really stuck, just Save the Session from any order form, send us an email describing your problem and we’ll get in touch with you.

What special information should I have handy to form a company?

The majority of the information you require you’ll already have readily available. Check the list below just to make sure.

• For the new company, you’ll need the precise planned name and the principal place of business of your new company. You’ll also need the registered office of your new company if this will not be the same as the principal place of business.
• For each shareholder you will need his/her name and address (and the ACN if the shareholder is a company)
• For each proposed Company Secretary (NOTE: a proprietary company no longer needs to have a company secretary) you will need his/her name and address, plus date and place of birth.
• You’ll need to know how many shares in the company each shareholder will have.

What extra details do I need for TFN/ABN/GST/PAYG registrations?

These requirements are detailed here

What details will I need to form a Discretionary Trust?

If you have been advised to form a trust and would find it helpful to read a little more in non-technical language, we suggest you go to our introductory material about trusts

• You’ll need to know the name and address of the Settlor.
• You’ll need to know the name and address of the Trustee.
• If the Trustee is a company, you’ll also need to know the ACN of the Trustee. If you are currently instructing FACCS to form a company to be the Trustee, we will add the company ACN to the documentation when it is issued by ASIC.
• You’ll need to know the beneficiaries of the trust

Settlor

The Settlor is the person who will pay a nominal sum to the trustee to establish the Trust. The Settlor is not eligible to derive any benefit from the Trust, so you should avoid choosing a potential beneficiary (ie a relative) to be the Settlor. The Settlor and the Trustee agree on the terms and conditions under which the trustee must hold the trust property and they sign a trust deed reflecting those terms and conditions.

Trustee

In laymen’s terms the Trustee “runs” the trust. The Trustee has the power to make investments on behalf of the trust, to make income distributions to one or some of the specified beneficiaries of the trust, to accumulate any income for future distributions and to make limited variations to the terms of the trust. The trust deed specifies the powers of the trustee. The trustee will also have the power to borrow money from banks and other financial institutions.

The Trustee may be an individual or a company.

What details will I need to form a Unit Trust?

• You’ll need to know the name and address of the Settlor.
• You’ll need to know the name and address of the Trustee.
• If the Trustee is a company, you’ll also need to know the ACN of the Trustee. If you are currently instructing FACCS to form a company to be the Trustee, we will add the company ACN to the Trust documentation when the ACN is issued by ASIC.
• You’ll need to know the beneficiaries of the trust and the number of units each is entitled to.

What details will I need to form a Hybrid Trust?

• In addition to the combined detail you need for a Unit Trust AND for a Discretionary Trust, you will also need to know the type of Special Units that the Unit holders will have.

What details will I need to form a Self Managed Superannuation Fund?

The FACCS Superannuation section is fully self contained. We strongly suggest that you review the whole section before proceeding further.