Company and Trust Establishment

There are four main business structures commonly used by businesses in Australia and My Tax Consultant can help with them all:

Sole trader: an individual operating as the sole person legally responsible for all aspects of the business.

Partnership: an association of people or entities running a business together, but not as a company. A partnership is relatively inexpensive to set up and operate.

Company: a legal entity that is separate from its shareholders.

Trust: an entity that holds property or income for the benefit of others. Trusts require a formal trust deed that outlines how the trust operates, requires the trustee to undertake formal yearly administrative tasks and if you operate your business as a trust, the trustee is legally responsible for its operations. A trustee of a trust can be a company, providing some asset protection.

Companies and Trusts are more complicated business structures but they have their advantages and MyTax Consultant can discuss these with you. You can change your business structure throughout the life of your business as your business grows and expand

Contact us today to discuss how we can work together: 1300 61 35 45 or email us at aj@mytaxconsultant.com.au