Structure Establishment and Advice
Starting a new business
Starting a business is an exciting time! Before you get caught up in the details of marketing, finance and operations, the first crucial step of bringing your business to life is your business structure.
Get this right from the beginning so you:
- Don’t spend time and money restructuring when established
- Have the right protection and insurances
- Maximise your tax position
If you are simply wanting to start your business as a contractor or sole trader with an ABN go here.
If you know you need a separate entity from yourself such as a Trust or Pty Ltd Company structure, this is where you should speak to one of our structure specialists.
Establishing your structure through an accountant means you receive:
- Advice relating to your individual needs
- Advice on tax minimisation & asset protection
- Advice on taxation obligations for your structure
- Essential business strategies
- A fixed fee proposal for structure establishment & ongoing accounting requirements
Need assistance with setting up your structure? Book in a complimentary 30-minute consult here.
What is the ideal structure for tax and business? Read this article.
Re-structuring your current business for asset protection
Already have an established business operating as a Sole Trader or single entity and looking to restructure?
The cornerstone to effective business restructuring involves 3 key attributes:
Asset protection and limited liability – this is the ability to protect your accumulated wealth from unsecured creditors in the event of personal insolvency. Further, it allows you to use the Corporation Law statutory provisions to ‘walk-away’ from unsecured creditors if the business becomes unviable.
Tax effectiveness – this is the ability to not only cap the tax rate for corporations but then also to have the ability to stream net income distributions to lower income beneficiaries to maximise your tax positions.
Succession planning – this is the ability to achieve optimum options and minimal capital gains tax implications and transfer duty when the business is transitioned to the next generation or eventually sold (whether externally or a key employee).
To assess these criteria against your current business structure, Contact us today for a review and analysis.