I am looking at setting up an business where I would setup a import/wholesale on one side and also setup a retail arm to sell some of the stuff I import. At first, the items I am planning to import will be mainly electrical & electronic products. I am just wondering what is the best way to structure and manage the logistics and also the books. 1. My plan is to import using my company, eg. ABC Pty Ltd ATF XYZ Family Trust. The trust will have an ABN. ABC Pty Ltd will be the trustee in this setup. 2. I intend to setup a retail arm where I would sell some of this items online via eg. www.mystuff123.com.au Some of the stuff I sell online will be supplied to the online arm by my wholesale group and also by other suppliers. So, the idea is I get the stuff imported, pass on some of the stock to my online business and sell online(www.mystuff123.com.au) operating under the Family trust entity. I think I will need to register a business name for this. I want to keep my online business anonymous and not make it public that I am supplying to my self and that I also own the wholesale arm. One reason for doing this is because I don't want my overseas suppliers to know what price I am selling their stuff at..I am sure they'd know anyway. I would also sell wholesale via ABC Pty. Ltd wholesale to my clients also, mainly retail shops, etc. Ok, so the questions are: 1. Is it best to keep 2 books for the business as they will operate under the 1 entity. I would like to use something like MYOB or Quickbook. 2. How do I word my internet business to keep it under the one entity when I register the trading name 'mystuff123'. And, how will I word this on my internet , or don't I need to say who owns this business etc. 3. Will I need 2 bank accounts?, However, with my online business I would have paypal and may need to setup merchant account later if business does well. Not sure what is the most effective and what is involved here? 4. On the bookeeping & account side - How do I keep my records. Should I sell to my online business at cost or should I sell with profit and does this make any difference . 5. How will the GST bits work if I am selling to myself ? 6. If I am driving a car selling my wholesale stuff does, this type of asset & equipment get shown in my ABC books or the online business books as I am using for both the business, including internet & computer/laptops, etc? I am wondering if there are businesses out there that already do this sort of stuff and have companies & structure setup to do both wholesale & retail? I would be happy to hear from anyone with other creative ideas or suggestions.