FAQ
Common Questions
Should I be a sole trader or set up a company?
It depends on your income, your risk and your plans. A sole trader is simpler and cheaper to run but offers no personal asset protection. A company can limit personal liability and may suit higher incomes, but comes with more compliance. We'll walk through your situation.
What's the difference between a company and a trust?
A company is a separate legal entity owned by shareholders. A trust is an arrangement where a trustee holds assets for beneficiaries. They're taxed differently and suit different goals, such as growth, asset protection or family income planning. We'll explain the trade-offs in plain English.
What ongoing compliance does a company have?
Companies have ASIC obligations and an annual tax return, and often BAS and payroll as well. We can look after these so nothing is missed.
Can I change my structure later if my business grows?
Yes, but restructuring can have tax consequences, so it's worth planning properly rather than doing it in a hurry. We can advise on timing and process.
Related: Company Tax Returns Trust Tax Returns BAS & FBT Lodgement