The new independent contractors law could possibly affect your tax, occupational health and safety and other obligations.

It is possible to be an employee for some work and a contractor for other work.

As a contractor, you may have to pay tax at a different rate to employees.

Find out what your entitlements are for superannuation, OH&S and workers compensation.

Although you may have contributed to or created material, products and ideas as a contractor, you may not be entitled to intellectual property ownership such as copyright.

Nobody likes to think about it, but it's inevitable that one day you will leave your business. Whether you decide to sell up, retire or have to get out of business due to health reasons, it's important that you plan for that day.

Selling your business is one of the most important decisions you'll have to make. Deciding how much your business is worth is one of the main issues you'll need to consider.

When closing a small business you need to address a number of issues.

If you can't pay your business debts, and haven't been able to reach an agreement with your creditors, then you may decide to go bankrupt.

If you're going to end your business, you may decide to wind up the company, or simply deregister it.

If a business name is no longer required you'll need to complete and lodge the appropriate forms with your relevant state governments.

At some point you may need to transfer part or all of your ownership of a business to your children or bring in a new business partner.

You must tell the Tax Office if you have ceased trading or your business has been sold. You must also cancel your various registrations.

When a member of your staff leaves your employment, you'll generally have to make some sort of final payment to them.

You've decided to go into business, completed your market research and written your business plan. Now you're ready to take the next step, but where do you begin when starting a new business?

You can take advantage of a broad range of advice and support offered by the Australian Government.

Innovation is not just about inventions. It's about new ideas and responding to new trends and market conditions, or improving existing products and services.

Good financial management is critical to the ongoing success of your business.

Understanding your taxation obligations is important when starting up a new business. Various federal, state and local government taxes and rates can apply, depending on the size and location of your business.

One of the first things you need to find out when you're starting out is what laws apply to your new business.