Starting a new business in Mandurah? Making sure your business is set up properly is essential, and with so many things to consider, it’s important to have the right advice. Areas you need to consider include:
- Minimising tax both long and short term
- Protecting your current and future assets
- Minimising any risks
- Succession of the business and being able to easily transfer ownership in the future
- Cost of compliance
The most common business structures are:
- Sole Trader
- Joint Ventures
Read more about the different business structures you can run a business under. LINK TO THE NEW BUSINESS PAGE WHERE THE STRUCTURES ARE BRIEFLY OUTLINED
Each of the above business structures come with their own complexities and having the experienced team of Ashok Parekh & Co on your side, means you’ll have the information you need to choose the right business structure for your new venture. We can help you not only understand the various business structures; we’ll also help you set up your business ensuring you meet any compliance requirements.
Business Structure Responsibilities
Due to the various compliance requirements of each business structure, the type you choose to run your business under may affect:
- How much tax you are required to pay
- Whether your assets are protected
- Costs to be compliant
- Costs in your tax returns
- Reporting requirements
While you are not locked into any one structure and can change it as your business grows or your business offerings change, it can be an expensive process. We will help you plan your businesses potential future, working with you to see where your business may head to help you choose the right structure.
Why is the Right Structure Important?
Apart from knowing what your compliance and regulatory responsibilities are, there are some other important reasons to have your Mandurah business set up under the right business structure.
The business structure you choose can affect:
- Who can make important financial and management decisions
- Tax advantages and disadvantages
- How your profits and losses are shared
- Legal obligations
When starting a new business, it’s so important to have the right advice to ensure your business is working for you both now and in the future. Our experienced accountants have helped thousands of business owners set up their new business ventures
We can assist you with areas including:
- Business registrations
- Setting up accounting programs
- Registering for GST and PAYG
- Lodging business activity statements
- Keeping company financial records
At Ashok Parekh & Co, you can take up our offer of a free initial consultation to discuss your business structure. We’ll run through and review any existing business structures, your business type, and what your plans are in the future. This allows us to then further discuss the setting up the right business structure for your new venture.
We’d love to meet with you for a coffee and a chat, whether in our office or yours, and talk about any concerns you have, as well as answer any question in relation to setting up your business structure in Mandurah.
Call us on (08) 6168 2448 or Book Online Now