Starting, owning, and operating a business brings many challenges, opportunities and surprises. With the right business structure, however, you can be assured that you’re ready for whatever business and life throws at you.
While choosing to be a sole trader, partnership, company or trust may seem simple, each structure carries different tax consequences, reporting obligations, personal liabilities and more. So, it’s important to have the right structure now and for the future.
Whether you’re a new business or an established business looking to restructure, at Eagle 1 Accountants, we provide business structuring services to optimise your circumstances and establish your foundation for success.
Business Structuring Benefits
Determining what entity structure or entity combination is right for you is a process of balancing and maximising four key benefits:
There are different tax implications for each business structure. Choosing the right structure ensures you best minimise your tax obligation.
Each entity type can put different risks on your personal wealth. Gain peace of mind by having the right structure in place to protect your personal assets from your business risks.
When it comes time that you want to pass on or sell your business, having the right structure will be critical for minimising your capital gains tax (CGT), Stamp duty and GST.
Operating under a corporate veil gives you limited liability, allowing you to abandon any company debts if your business becomes insolvent.
How Eagle 1 Can Help
As your business grows, your business structure needs to evolve with it. At Eagle 1, we take the time to get to know you and your business, ensuring you always have the best business structure to achieve your goals.
Our team has a wealth of experience, helping you optimise your tax position, protect your personal assets and mitigate much of the risks associated with starting and running a business.
