Starting and Structuring a New BusinessOur Services: For Businesses
Starting and Structuring a New Business
If you’re thinking of starting a business, we can help you understand the rewards and drawbacks of different business structures, provide professional advice on the tax implications of each and what structure will suit your needs now and forecasted into the future.
The four most common types of business structures in Australia are:
- Sole trader: an individual operating as the sole person legally responsible for all aspects of the business.
- Company: a legal entity that is separate from its shareholders.
- Partnership: an association of people or entities running a business together but not as a company.
- Trust: an entity that holds property or income for the benefit of others.
We can provide with advice on each of these and we draw on our extensive experience assisting many of our clients to set up various business structures over the years.
As your business grows, you may decide to move to a different type of business structure, and we can also assist with this transition and make you aware of obligations for a new type of business structure.
Watch the Choosing your business structure video produced by the Australian Taxation Office for more information or to discuss what structure will work best for you, please get in touch with our friendly team to make an appointment.
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