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Sam888(Newbie)Newbie
6 Aug 2024

Hi there,

I have a company which I set-up four years ago to perform my usual business activities.

I am planning to add some other activities to my work and get some sub-contractors to perform those other activities which are slightly different to my main business activities but are in the same industry.

I want to continue my usual activities under my company name but have the sub-contractors perform the other activities under the company name "trading as" a business name.

I am wanting to set-up a new bank account for the Company name "trading as" a business name so that I can at least see how the two operations are performing, separately.

However, I only want to prepare one set of financials. Is it possible to have one set of financials for both the company name and the company name "trading as" a business name (even though I am operating them like two separate businesses)? And will one company tax return cover both the company operations and the company "trading as" a business name? I hope this makes sense!


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Most helpful response

Most helpful reply

Matt_ATO(Community Support)Community Support
8 Aug 2024

Howdy @Sam888,


Yes, it's possible to have one set of financials for both your company and the “trading as” business name. As well as one company tax return for both operations.


Since the “trading as” business name is not a separate legal entity but rather a part of your existing company; you can prepare one set of financial statements for the entire company. Check out the info on business registrations.


Include the financial performance of both your usual activities and the new activities under the “trading as” name.

To track the performance of the two operations:

  • You can set up different accounts or cost centers within your accounting system.
  • You can generate internal reports to see how each part of the business is performing.

You'll only need to lodge one company tax return. The income and expenses from both your usual activities and the “trading as” activities will be combined in this return.

All replies

Most helpful reply

Matt_ATO(Community Support)Community Support
8 Aug 2024

Howdy @Sam888,


Yes, it's possible to have one set of financials for both your company and the “trading as” business name. As well as one company tax return for both operations.


Since the “trading as” business name is not a separate legal entity but rather a part of your existing company; you can prepare one set of financial statements for the entire company. Check out the info on business registrations.


Include the financial performance of both your usual activities and the new activities under the “trading as” name.

To track the performance of the two operations:

  • You can set up different accounts or cost centers within your accounting system.
  • You can generate internal reports to see how each part of the business is performing.

You'll only need to lodge one company tax return. The income and expenses from both your usual activities and the “trading as” activities will be combined in this return.

Liked by Sam888

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