Business setup and structure planning is extremely important when it comes to determining the success of your business. At Simpro Taxation Services we offer you the expert advice you need to understand your short term and long-term business goals. We are committed to recommending you the structure that will help you to achieve your goals.
Simpro Taxation Services provide you the expertise and experience you need when it comes to the tax treatment of company, partnership, trust and sole trading. We can also advise you on share structures.
When you want to set up your business, it is important to know which structure best suits the way you want to run your business because the following will affect you:
⦁ How your business can raise money
⦁ The authorities you need to notify
⦁ The accounts and records you have to keep
⦁ The financial liability in case your business runs into any trouble
⦁ How management make decisions about the company
Here is what you’ll get when you hire us to setup your business for you:
⦁ Business name registration
⦁ ABN application
⦁ GST registration
⦁ ASIC filing
⦁ Company registration and setup
⦁ Policy and procedures creation
⦁ Accounting software selection and installation
If you are looking for an accountant in Perth to help you design the right business plan and projection based on your requirements, turn to Simpro Taxation Services- Registered Tax Agent and Public Accountants. Our goal is to help you build a business you desire. Contact us today!
Sole Trader
Sole trading is the simplest way to trade. Out of the few formalities required to trade this way, find out more with one of our tax accountants. As a result of Single Touch Payroll, businesses will no longer be required to complete payment summaries at the end of the financial year as it will have already been done and available to employees through myGov. You will report your employees’ payroll information directly to the ATO from your payroll solution.
Partnership
A partnership is where two or more people come together to build a successful business with their clients, business contact and their talents. They will agree to share profits based on the capital they contributed.
Company
The ownership of a company is recognized by owning a share in the company or owning the company outrightly. When a company generates profits, it is the property of the company. But the company needs to be properly registered to avoid any problem. Simpro Taxation Services can help you get through the registration and everything required to start a company.
Discretionary Trust & Unit Trust
Instead of setting up a company, several business owners operate and distribute business gains through the discretionary trust or unit trust. With trust, you can take advantage of tax benefits that come with income-splitting. But if the trust is not set up in a correct way, there is a high level of liability with limited asset protection.
Why business structure planning is important
Starting a business without structure planning is a recipe for failure. Business structure planning helps you set up the right legal protection for your business in order to prevent problems that can turn your services, great idea and hard work into statistics of business closures.
Contact us to know how we can help you.
