How do I close my business (as a sole trader, partnership, trust, or company)?

To close your business, you will firstly need to check whether your state or territory government has any special requirements. Then, the following steps can be followed (steps 6 & 7 are the most important):

1. Review your finances

2. Notify your employees and contractors

3. Notify your customers

4. Notify your suppliers

5. End your lease agreements

6. Finalise your tax obligations

7. Finalise your legal obligations

8. Know what business record keeping you need to keep

9. Tie up loose ends

10. Look after yourself