SKC ACCOUNTING · AUSTRALIA

Business Setup & Structuring

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Starting a Business? Get the Foundations Right

Starting a business involves more than choosing a name and finding customers.

There are also decisions about:

  • how the business will operate

  • which structure may be appropriate

  • registrations

  • taxation

  • GST

  • accounting records

  • banking

  • software

  • ongoing compliance.

Getting those foundations organised properly can make running the business much easier later.

Common Business Structures

Australian businesses commonly operate through structures such as:

  • Sole Trader

  • Partnership

  • Company

  • Trust

Each structure works differently.

The right choice depends on your individual circumstances, business activities, plans and other considerations.

How SKC Accounting Can Help

Depending on your requirements, we may assist with:

  • explaining common business structures

  • discussing accounting and taxation considerations

  • business registration support

  • ABN applications

  • GST registration

  • PAYG registrations

  • company setup support

  • accounting-system setup

  • bookkeeping foundations

  • initial tax and compliance guidance

  • coordination with legal or specialist advisers where necessary.

We Don't Believe in Choosing a Structure From a Checklist

A structure that works well for one business owner may not be suitable for another.

Before deciding, it can be useful to consider matters such as:

  • what type of business you're starting

  • expected income

  • whether you will employ people

  • whether other owners are involved

  • future growth plans

  • asset-protection considerations

  • administration requirements

  • taxation considerations

  • the costs of maintaining the structure.

Where legal advice is required, we may recommend that you speak with an appropriately qualified legal adviser.

USEFUL ANSWERS

Common Questions

Should I automatically start a company?

No. A company may suit some businesses, but it isn't automatically the right structure for everyone.

Can I change my structure later?

Potentially, yes, but changing structures can have taxation, legal and administrative consequences. It is better to obtain advice before making the change.

Can you help me set up the accounting side from day one?

Yes. Establishing appropriate bookkeeping, bank accounts and accounting systems early can prevent many problems later.

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Let’s Talk About Your Business

A useful first conversation starts with what your business does, what is creating pressure and what you would like to improve. Book a Complimentary Initial Consultation to discuss the support that may suit your circumstances.

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