New companies require registration with the Australian Securities and Investments Commission (ASIC) and the business name must be registered with them. You’ll need to decide whether your circumstances require a company setup or if a different entity structure is most suitable for your needs.
A company has certain advantages in enabling you to conduct your business throughout Australia, and make use of corporate tax rates and limited liability. Companies are more expensive to set up and administer than other entity structures, and company office holders have legal obligations they must fulfil.
Your circumstances may be better suited to a Sole Trader, Partnership or Trust, so before you register anything – talk to a PJT Accountant about your plans.
If you’re setting up a new business from scratch you’ll need to register the business name and company with ASIC and pay the setup fees and annual registration fees each year. Officeholders will need to be registered and abide by legal obligations bound under the company constitution.
If you’re buying a business, we can guide you on the best way to structure a new entity or share purchase. Talk to PJT to determine which entity structure is best for your particular circumstances.
Talk to PJT's specialists today about how we can help you and your business.
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