Whether starting a new business or restructuring an existing one the choice of business structure should only be made after careful consideration of your circumstances.
Entities commonly chosen to carry on a business include:
A typical business structure often utilises more than one of the above.
The choice of structure involves both tax and non-tax considerations, including (but not limited to):
To further complicate matters the interaction of the ATO’s anti-avoidance rules with certain businesses can mean that a perceived tax benefit of a particular structure is illusionary.
Waterson Accounting has extensive experience in assisting clients choose the optimal structure for their business.