It's really important to trade through the right business structure.
There are different types of structures which can be used, each one has different implications for amount of tax you pay, and also how well your assets are protected.
It’s important to use the structure that best suits your circumstances. And bear in mind it should not only deal with your current situation but be able to deal with changes 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. It’s essential that you get specialist advice and we’d be happy to help. We’ve advised hundreds of franchisees on the most appropriate business structures for their situation. We would be happy to chat through your situation to find the best structure for 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:
Discuss your situation and recommend the most appropriate business structure
Establish the business structure, including all 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.