The beauty of freelancing is in the diversity and in the freedom it gives you. You can do whatever you are good at and get paid for it, and you can do it whenever it suits you best.
However, to do it successfully, and stay out of trouble (especially in Australia), there are several things that you need to pay close attention to when starting out. Check out the rest of the article to find out what these are!
Get an Australian Business Number (ABN)
An ABN is a must if you plan to be your own boss in Australia. This 11-digit number is issued by the Australian Business Register and it will become your new business identity. You will use it to identify yourself when you are doing business, but this number is also necessary if you are getting paid via invoices.
To obtain it, you should go to abr.gov.au. Here, you can fill out the form required to get an ABN and answer several questions. If you plan to work by yourself without any employees, make sure to state you are a sole trader.
Learn How Invoices Are Created
A good idea to make sending invoices simple is to have a .pdf file template which you will then fill out on a job-to-job basis and send it to clients who require it. Every invoice needs to contain the following pieces of information:
- Your name and surname
- Your contact details
- The name and contact details of the company you’re dealing with
- A description of the work you’ve done
- Bank details
- The exact fee or hourly rate and hours worked
- Payment terms
Find Out Whether You Need GST
In case you are making more than $75,000 a year doing freelancing, you’re obviously doing a very good job! However, in that case, you also need to register for GST and start paying taxes on your earnings.
When you register for GST, include it in your invoice as part of your service. That way, you will not have to pay it out of your own pocket but your client will cover it. The important thing is to pay it regularly to stay out of trouble.
Find a Comfortable Working Environment
Working in freelancing means that you will have to constantly motivate yourself to work. Any distractions, which your home is full of, will make this job a lot more difficult. Therefore, a good idea is to find a cozy coworking place, or a nice and quite local cafe, and start working from there. This will do wonders for your productivity.