Several structures exist for a business operation, and having the right legal structure is crucial for your business as it impacts the business’s complex tax implications. Some of the structures include: Sole trader, Partnership, Trust and Company
We work with you to understand benefits and issues/complications of operating your business under each of these structures above. This is imperative as the right business structure can make a big difference to the future success and growth of your business.
The business structure should balance between your short- and long-term objectives, succession plans, prevailing taxation laws and likely future developments, accessing the privileges of limited liability compliance and regulatory considerations and business risks.
You are assured of implementing the optimal structure when you work with a trusted, and experienced JD Business Consulting Group specialist.
Benefits of business structuring
- Access to funding options and operational efficiencies to grow your business, achieve your goals and maximise wealth
- Confidence your business structure is the most tax efficient in both the short and the long term
- Minimization of compliance costs
- Transition of ownership in the case of family business succession
- Risk minimization and asset protection
How we can help
- Decide on the most suitable structure for your business/investment – sole trader, partnership, trust, SMSF or limited company
- Establish and implement the new structure
- Help prepare a business plan, cash flow projections, budgets, and trading forecasts
- Assess your finance requirements, advise on the best sources of finance and draw up the necessary proposals
- Establish a good working relationship with your bank
- Register for an Australian Business Number (ABN) , Tax File Number (TFN) and Goods and Services Tax (GST)
- Complete registration procedures with Australian Securities and Investments Commission