Going out on your own? Tick it off.

Before you hand in your notice

ABN registered (free, 10 minutes, abr.gov.au) GST registration sorted if you expect $75k+ turnover (most subbies hit this) A business bank account, separate from your personal account, from day one 3 months of clean bank statements building (no dishonours, gambling apps quiet) Your last 2 payslips and PAYG summary saved somewhere you can find them Any trade licences and tickets current and copied

What lenders actually look at for a new ABN

Same trade you were employed in (this is the experienced-operator path) Evidence of work lined up: a contract, a letter from a builder, even solid quotes Deposit or trade-in (10 to 20 percent moves you into better rates, but $0 deposit deals exist for the right profile) Clean credit file, checked before a lender checks it for you Asset-backed: you own or are paying off a home

Financing the ute or the gear

I understand a chattel mortgage (the usual structure for a work vehicle or machine) I know the total cost over the term, not just the weekly figure (balloon payments included) I have compared total repayable, not just the rate If buying before EOFY, I have asked about the instant asset write-off settings for the year

The mistake that hurts the most

Signing a personal car loan right before you try to buy a home. That new repayment can cut your borrowing power by far more than the car is worth to you. If a home is on your radar in the next two years, structure the vehicle as business finance and talk to a broker BEFORE you sign anything. We wrote up exactly how the maths works: does a car loan affect your home loan?

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