Choosing your business structure: Sole Trader or Company?
There are four commonly used business structures in Australia:
- Sole trader
- Partnership
- Company
- Trust
Partnerships and Trusts will be discussed in another article.
It’s important to understand the responsibilities of each structure because the structure you choose may affect:
- the tax you’re liable to pay
- asset protection
- costs.
You’re not locked into any structure and you can change the structure as your business changes or grows.
To find out more please read the following article: