Taxation issues

You must tell the Australian Taxation Office (ATO) if you have ceased trading or your business has been sold. You must also cancel your various registrations, such as Australian Business Number; Goods and Services Tax; Luxury Car Tax; Wine Equalisation Tax; Pay As You Go; or Diesel and Alternative Fuel Grant Schemes.

Keep your details up-to-date to make sure that any activity statements the ATO sends you reflect your current situation. All activity statements that are sent to you must be lodged - even if this is a 'nil' report because you have not traded in that period - and paid by the due date.