So you are currently operating as a Sole Trader, it’s going great, but have you wondered when is the right time to start operating as a ‘Company’?
Setting up a company structure to operate your business can have some great benefits.
Companies are:
- separate legal entities which means the liability is limited to the company.
- owned by the shareholders and managed by the directors.
- are governed by the Corporations Act
Companies are registered with ASIC and require a small yearly fee to maintain registration, a company must also have tax returns and financial statements prepared each year.
How much does it cost to set up a company?
Vine Accounting would be happy to catch up to discuss our pricing and work out if setting up a company is right for you, we’d love to hear from you.