There are a number of structures available to businesses whether you are a start-up or have been in business for a number of years. At O’Farrell Robertson McMahon we can provide advice on the correct structure for your business including:

  • Sole Traders
  • Partnerships
  • Trusts
  • Companies

It is important to ensure that the structure you select is right for your circumstances. At OFRM we believe in working with you and your accountant to achieve the best legal and financial outcomes for clients when starting up or operating a business.

There are many different structures which may suit your needs, but it is important to ensure that you understand the legal ramifications of each of the decisions you make before settling on a particular structure.

When considering a legal structure for your business, you should consider your legal liability, the costs associated with the structure that you select, the complexity of the structure in terms of the required paperwork, whether or not your structure requires any agreements to be made in writing, the correct structure for you in regard to succession planning and obviously the financial impact of any structure you choose, including taxation consequences.

For any assistance with this issue, please Riley Driscoll on 03 5445 1000.