Business Setup Service
Set Your Business Up For Success With Expert Business Setup Advice
When starting a business in Australia, finding the right type of legal structure for your company can be overwhelming. Do you go with a sole proprietorship, a limited liability company, or a partnership? The good news is that there are experts who can guide you through this challenging decision-making process.
Australian Tax Specialists offer Business Setup Advice in Australia to assist you in determining the proper structure for your specific goals and needs. With their help, you can feel confident in your choice and know that you have taken the mandatory precautions to protect yourself and your business from potential legal and financial problems down the road.
Don't do it alone - seek our Business Setup Advice and give your business the best chance at success. Australian Tax Specialists is based in Sydney CBD, Glenfield & Brisbane. Call us on 02 8091 4054 for a confidential chat.
Which Business Structure is Right For You?
If you're an entrepreneur starting a business in Australia, it's essential to consider which business structure is best for your needs. Our Business Setup Advice provides tailored guidance for small and medium businesses, helping them choose the right organisational structure based on their specific goals and needs.
Different Business Structures in Australia
A sole Trader means that the individual owns and operates the entire operations and is responsible for making all the decisions and managing everyday tasks. As a sole proprietor, you are also responsible for any debt or liabilities that may arise.
A partnership allows for the sharing of responsibilities and decision-making, as well as bringing different skills and perspectives to the table. However, remember that each partner becomes personally liable for the debt and obligations of the partnership.
In a Company, ownership is divided into shares that can be bought and sold by shareholders. These shareholders elect a board of directors to make important decisions for the company and guide its operations.
Discretionary Trust gives the trustee maximum control over distributing income or capital to beneficiaries, making it a flexible choice for businesses with changing profit distributions. In addition, a discretionary trust offers asset protection and potential tax benefits.
With this structure, a trustee holds legal title to the property for beneficiaries, who are typically the owners.
This type of trust is commonly used for investment purposes and offers flexibility in terms of adding and removing owners, as well as tax benefits where income can be split among owners.
Joint Ventures involve aligning with another business and sharing resources, profits, and control. While it can be a great opportunity for growth, it's important to carefully consider the potential risks and benefits.
Business Structures in Australia
When it comes to business structures, it's easy to make mistakes without realizing them.
These are some Common Risks With Your Business Structure
❖ Operating as a Sole Trader While Having substantial Assets in your name?
❖ Having Set up a company to conduct your trading business, but the company shares are held in your own name?
❖ Holding all of your business assets under one name?
❖ Purchasing investment properties under a company structure?
❖ Operating a Partnership without considering Estate and Succession Planning?
These mistakes might seem insignificant at the time, but they can actually have dire consequences. Get in touch with us for more information!
Our Services to Set up a business
Firstly, this has to be a tailored approach specifically for your situation.
If asset protection is your main concern, then you will need to consider a different structuring method. Speak to us and we can assist on the following:
❖Full assessment of your situation and goals, followed by advice on the type of entity to set up.
❖A combination of Company & Trust setup
❖Sole trader business setup
❖Partnership Set up
❖ABN & Tax File number setup
Estimated and for Advice, please contact us.
The Trustee for YZX Pty Ltd
Includes, 1 Trust & 1 Trustee Company as Trustee
* Trust Deed
* Company Constitution
* Stamped by Service NSW
Frequently Asked Questions
How long does it take to set up a Company
Provided the company name you want is available, it can take 24 hours with ASIC. Additionally, ABN & Tax file number can take up to 48 hours.
Do I need to be an Australian Citizen or resident to set up a business
Yes, You need to be an Australian citizen or resident with valid TFN to setup a business in Australia.
Do you provide Advice when you set up a business?
Yes absolutely ! This is where we are different. We will actually go through the Pros and Cons of the business structure and make a recommendation tailored to your plans for future.
What about Tax ?
As you know, Different structures attract different tax rates in Australia. For ex. A Company for a small business attract flat 25% tax. So you should consider advice on what structure is best for you.
Can you set up a business for Foreign entity ?
Yes we can, there is bit more checks in place for this. Please check our doing business in Australia Section.
Reviews from our Clients on Business Setup
"our restaurant operates through a Family Trust structure, and
are very happy with
the Tax Planning and service we receive along with the Tax + Accounting from ATS"
---- Erciyes Resturant
Reviews from our clients on Business Setup
"We found Australian Tax Specialists online, and our Company set up and ABN registration process was smooth along with the Business Advice"
---- Q Consultants
Reviews from our clients on Business Setup
"After i made some mistakes trying to set this up online, i called ATS and We had our Investment Trust + Corporate Trustee setup for us along with Tax & Abn Registration with Advice. The process was easy "
---- Megapixel Pty Ltd