Choosing your business structure
Choosing the best structure for your business can be difficult
There are numerous options, each with its own set of benefits and drawbacks
There are four commonly used business structures in Australia:
- Sole trader
- Partnership
- Company
- Trust
It’s important to understand the responsibilities of each structure because the structure you choose may affect:
- the tax you’re liable to pay
- asset protection
- costs.
You’re not locked into any structure and you can change the structure as your business changes or grows.
If you’re unsure which structure to choose, we recommend you talk to the team at Salisbury Accountants.
Define your success with Salisburys
Salisbury’s Business Coaching Program has been designed and developed to assist business owners with the support and guidance they need to achieve their own definition of success.
Tailored for each business, our program provides business owners with the support structure and key tools they need to achieve their goals while holding them accountable for achieving these goals in the agreed timeframes.
Read more here or call Salisbury’s Business Advice team in Albury on 02 6041 3014.
