Business Structures
It’s very important that you receive quality advice when starting a business as the structure of your business is its foundation.
It can cost you significantly and you risk losing your assets if not established correctly.
Setting up a business can be a daunting but exciting experience.
We will provide you with our experience, advice and easy process to make this experience comfortable and less stressful for you.
The 4 key factors we consider when advising on business structures are:
- Asset Protection
- Tax Planning
- Business Risk
- Estate Planning and Succession of Assets
To protect your personal home, business and other assets form the risks of your business, it’s vital that your business is set up with the correct structure and you have the appropriate insurances to reduce the risks.
The aim is to separate all assets away from the exposure of business risks.
Business risks include customers, creditors, suppliers, employees and the banks, these are the people that can sue you.
You need the best structure that will provide you with the maximum asset protection and greatest taxation flexibility.
If you have an existing business we can look at restructuring your business and the benefits.
Another important point is that your structure needs to take into consideration changes to your business in the future and be flexible to adapt.
Manage your risk also by making sure you have insurances such as workcover, income protection, life insurance and business insurances that are vital in protecting your assets if anything were to happen to the key people in your business.
New Business Establishment
Process
- We meet to identify your needs and discuss business structure issues and advice.
- We follow up our meeting with written structure advice for you to approve and return to us with approval and business name proposals.
- We establish the structure for you including:We meet to sign off the relevant documents to formally establish your business.
- The business entity legal documentation.
- Australian Securities and Investment Commission (ASIC) company registration (if applicable).
- Australian Business Number (ABN).
- Tax File Number (TFN).
- Goods & Services Tax (GST) registration.
- Pay As You Go Withholding (PAYG Withholding).
- Conduct company name searches.
- Register business names.
- Workcover Application.
- Cashflow and Profit projections for bank financing.
Provide accounting systems and bookkeeping advice.
Send off relevant documentation for registration.
Meet to deliver the final documents.- Prepare documentation for you to provide to the bank to open your business account.
We Offer The Following Services:
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