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Does anyone know if temporary graduate visa holders (subclass 485) are allowed to register/start an Australian business?

As you may know 485 visa holders need to obtain at least 1 year of work experience after that they can get their skills re-assessed for permanent stay and apply for other visas.

Self-employment is also acceptable for that 1 year work experience. But I have not found information on whether it's possible to register a business.

If possible I'm interested in registering a business or in some other way get a ABN/ACN so I could potentially provide services, accept clients/contracts etc... hopefully in a form that would not make me personally liable.

In case it matters, I'd be interested in accepting freelance software projects, building websites, selling custom software/apps and things of that nature. So I'd like to have a business entity to cover liability and separate financial records and in general "be serious" about the whole thing.

Without a registered entity it's very hard to get far or be taken seriously, if not impossible.

Any info on this topic would be appreciated.
 
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