Business Plan Structure Services to Help You Choose the Right Business Structure
Selecting the right structure for your business is quite critical, especially because there are multiple options to consider – each with its own pros and cons. Fortunately, Lotus Smart has experienced business strategy planning accountants who can assist you in determining the right structure for your business. Our business plan structure experts will inform you of all possible options and provide tailored advice to help you find the right match.
The most common types of business structures in Australia are:
- Sole Trader
- Pty Ltd Company
- Partnership
- Trust
Affordable
Saves you time
Peace of mind
Business insight
You need to consider the following main criteria while choosing the structure of your business:
- Tax implications
- Personal liability of the owner if something goes wrong in the business.
- Growth plan: Whether you have the plan to bring in additional investors in the business
- Cost of set initial set up and ongoing compliance cost
- Asset protection
Australian tax laws are complex and dynamic, and changing your business structure at some point in the future can trigger a capital gains tax or stamp duty if there is the involvement of real estate property. This is why it’s important to consult with business structure advice accountants who can inform you of both the short and long-term consequences of setting up a business structure.
As one of the leading accounting firms for business setup, Lotus Smart is a specialist in business structuring. We will ensure you have the best legal structure (e.g. company, trust, SMSF, SMSF bare trust, etc.) for your business or investment that will help you to successfully plan and implement strategies on tax minimization, asset protection, and wealth creation.
Call our business strategy planning accountants today at (03) 9561 9922 to arrange for a free business plan structure consultation.