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:

Difference between a sole trader and a company