Business Structures and Planning

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Business Structuring

What structure is best for me?

An important decision for any business is deciding how the business should be structured. For example will a company or trust structure be more suited to your business or would trading in your own right or in partnership be better?

The choice of structure will usually depend upon such issues as:

  • Whether you expect your business to change in size in the foreseeable future.
  • The risks the business faces and whether those risks are manageable.
  • Are changes in ownership of the business foreseeable?
  • Will new owners or partners be added to the business?
  • The activities of the business.
  • The types of assets the business needs to operate.
  • How the business will be funded. (i.e. through capital contributions or loans).

What problems can occur if I don't choose the correct structure?

Typical problems with choosing an incorrect structure include:

  • exposing the owners to civil liability risk
  • transfer duty problems
  • capital gains tax problems
  • inability to stream or divide income
  • capital / fund raising problems
  • entry and exit problems when you wish to add or retire owners of the business
  • criminal penalties and charges for failing to comply with Corporations legislation.

Having your business structure correct at the start will save you problems and expense when compared to trying to change things after the business has commenced.

Our role is to guide you through establishing the most suitable structure for your business and we would be honoured to help shape and mould your future business success.

 

Business Succession

Retiring?

Trying to think of a strategy to exit your business?

If you have reached the point of considering retiring or selling your business we help you put in place the structure and steps needed for that transition right through to completing the sale. In doing this our lawyers consider:

  • the strengths and weaknesses of the business
  • asset protection strategies
  • taxation considerations
  • the use of trusts, wills and powers of attorney
  • structuring and
  • exit strategies.

We understand we aren't the only experts necessary to successfully plan exiting your business and we have a strong network of advisers who can assist on the various aspects of business succession. These include:

  • Accountants
  • Financial Planners
  • Insurance Advisors
  • Valuers
  • Agents and
  • Brokers.