Each business structure can be used on it’s own or in a combination to achieve specific goals around risk, investment, capital raising and tax objectives.
Changing structures in the future can be done but will usually incur additional costs from capital gains and stamp duty which can be avoided if set-up properly at the start.
Each type of entity has strengths and weaknesses which is why we sometimes use more than one entity type to optimise certain benefits and minimise downsides.
We will apply for the Tax File Number, Australian Business Number, business name and various taxation registrations required for your business.
ASIC Fee for the business name is charged separately.
The partnership agreement sets out the rights and obligations of the partners as well as the process for dispute resolutions and how the partnership is dissolved. Partnerships are normally between people but can include other entities.
Partnership agreements starting from $700 plus gst
A Trust is not an entity in its own right, but a contractual instrument to provide a Trustee authority to manage the assets in its control for the benefit of the beneficiaries.
Trusts are primarily used to distribute profits, control assets/businesses for the future benefit of the beneficiaries. They are often used to separate the functions of control of assets and the benefits derived from owning the assets.
Companies are a separate legal entity, capable of owning property and paying taxes in it’s own right. Capital is normally distributed by wages and dividends. Companies can be used in different ways to great affect to reduce tax and hedge risk.
Includes ASIC fees.
You should be focusing on ne business and not admin and a good start makes life a lot easier. By having your systems set up for your business, we allow you to record transactions to maximise deductions and reporting options, allow meaningful business analysis and stay compliant.
In todays connected world, people are looking for assurances more than ever to increase their confidence in working with you. More businesses than ever no longer have a shop front people can walk into which makes your digital presence more important.
First impressions still matter and in a digital world, this will be your email, website and google business page. Using a generic private email like @gmail.com or @yahoo.com immediately says something about your business compared to another using their own domain name.
We can setup your:
If you have plans for a flying start, you may not have all the processes in place yet to run your accounting and finance department. We already have these processes in place to help you measure and control your success.
Getting paid, paying people and suppliers the right amounts on time, will help you deliver results to your customers and allow you to keep doing it day after day.
Our frequent business analysis will highlight areas you are doing well so you can formalise processes and keep doing them well and areas that require improvement so you are able to work on very specific areas to gain real and measurable results to grow your business.