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 […]

COVID-19 test expenses

From 1 July 2021, if you pay for a COVID-19 test for a work-related purpose, you can claim a deduction.

This only applies if you’re an employee, sole trader or contractor.

When you can claim COVID-19 testing

From 1 July 2021, to claim a deduction for the cost you incur to pay for a COVID-19 test, […]

VIC Circuit Breaker Business Support Package

Package overview

The Victorian Government has launched the $250.7 million Circuit Breaker Business Support Package to assist small to medium businesses and sole traders, under the circuit breaker restrictions announced on 27 May 2021.

The package will support businesses unable to operate due to these necessary public health measures, including targeted support for the events […]

Victorian Circuit Breaker Support Package

A $143 million support package has been announced

New support package announced for businesses affected by 5-day circuit-breaker.

It will help small businesses and sole traders affected by the recent 5-day circuit-breaker restrictions.

The Circuit Breaker Support Package will offer:

$2000 grants for eligible employing and non-employing businesses in the hospitality, food wholesaling, tourism, events […]

VIC Small Business Digital Adaptation Program

The $20 million Small Business Digital Adaptation Program is now open

Help for small businesses, sole traders and micro-businesses to build digital capability in day-to-day operations.

Spaces for the Small Business Digital Adaptation Program are limited. Registrations will remain open until funds are exhausted or until 11.59pm on 28 February 2021, whichever is earlier.

The program […]

Lifecycle of a business from start-up to sale

Speech Pathologist Karla Morison was new to business ownership

After having her third child, Karla Morison felt it was time to resume her career with the idea of starting her own speech pathology clinic in 2013.

Matt Salisbury was Karla’s accountant since 2004.  Having never managed a business before, Matt was a natural choice for […]

Accessing Coronavirus supplement payment for sole traders and casuals

The federal government has expanded eligibility access to social security payments in response to the economic fallout from COVID-19.

Any person, whether a sole trader, casual, full-time or contract worker will become immediately eligible for payments should that meet the relevant income tests.

This includes an additional $550 per fortnight Coronavirus supplement payment.

The Coronavirus […]

Choosing a business structure

Setting up a business structure

If you are starting a business you will need to work out which type of business structure to use. 

We explain the benefits and disadvantages of different types of business structures. Sole trader

A sole trader is the simplest business structure and it is inexpensive to set up because there […]