There’s a number of different structures which can be used to operate your business through. And it can be costly if you set up the wrong one! The structure you use has massive implications for the level of tax you pay, and also whether your assets are protected.
It's really important to have the right structure set up for you, one that suits your needs. And it should have the flexibility to not only deal with your current situation but cope with change which may occur in the future.
Business Trading Structure
There are four types of business structures which are commonly used for franchise businesses.
Choosing the right one for you can be complex because of the tax and asset protection issues. We recommend you get specialist advice and we’d be happy to help. We have advised hundreds of franchisees on the most appropriate business structures for their situation. We would be happy to chat through your situation together to find the best one to suit your situation.
Our business set up process:
Our business set up process will help you progress smoothly through this complex area of regulation and compliance. The steps we follow include:
Discussion of your circumstances and a personalized recommendation of the most appropriate business structure
Establish the business structure, including paperwork and documentation
Attend to registrations with the Australian Taxation Office for GST and Tax. We also deal with ASIC on your behalf and establish your Registered Office
Check on your personal tax status with the ATO and advise you on any action needed to bring your personal tax up to date.
Fees: Range from $1,795 to $2,345 + gst - This includes set up costs for company and trust as required
* Stamp duty is charged at cost, where applicable.