Incorporating your business will have tax, reporting and compliance implications for both you and your business. You should consider your options carefully having regard to your individual circumstances. Speak to a solicitor, accountant or registered tax agent. The help they can provide will enable you to make an informed decision.
In addition, you can find out more about business structures and responsibilities at business.gov.au or from the Office of Fair Trading in your state.
While this document deals with the federal tax implications of a decision to incorporate, you should contact state and local government bodies for advice on other implications of incorporation. Links to these bodies can be found at business.gov.au