We offer a full range of accounting & taxation services to help you and your business minimise your tax and meet your taxation compliance requirements.
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Our extensive range of services provides you with a “one stop shop” and shows you tangible ways you can improve your business – and your profits.
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Are your assets protected? How can we help protect your personal and business assets?
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We are well qualified to fast track your journey to financial security. We can advise you and your business on all your financial planning needs.
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Business Structure Advice
Deciding on the best legal structure for your business is an important decision as it can impact on taxation, the liability of owners, succession, ownership issues and disposal of your business. MCG can help you determine the appropriate business structure that will best suit your needs as well as helping you set up and register your business.The most common business structures used in Australia include:
Sole Trader - a type of structure where the business has no separate legal existence from its owner. As a sole trader you will be responsible for the liabilities of your business.
Partnership - is a type of structure where two or more people start a business and can legally share profits, risks and losses according to terms set out in a partnership contract.
Company - is a legal entity separate from its shareholders. A director of a company has additional legal and reporting obligations but has the benefit of limited liability and is the most often used structure for running a business.
Discretionary Trusts - is a special entity that has a number of benefits including the ability to stream income to family members as well as having the benefit of protecting your assets if set up correctly.
Before you start a business you should consider the advantages and disadvantages of each type of structure as this decision can affect the safety of your personal assets and taxation, the continuation of the business upon ownership change and will determine what registration process you will need to undertake.
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All the latest tax facts and information you need to know about personal and company tax...
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