Business Structure Advice

Which is the best type of business structure for you?

Starting a business can involve a sometimes overwhelming number of decisions, all seemingly crucial. Deciding which structure to use when setting up your business can have long-term effects on tax, asset protection, and costs. Bottom Line Control accountants can offer professional advice customised for your specific business to ensure you’re off to the best start.

Need help on how best to set up your business?

At some point in every business venture you will come across a need for guidance. This is where Bottom Line Control can help. Our team of professionals can help you to get your business structure right from the beginning.

Need Advice?

Choosing a business structure

Business owners and sophisticated investors are all unique, which is why it’s important to have a tailor-made business or investment structure to suit your individual circumstances.

When setting up as a sole trader, company, trust, partnership, or superfund consideration needs to be given to asset protection, effective taxation outcomes, ownership, control and who will receive the income and capital.

Types of business structures in Australia

What is a sole trader?

A sole trader is an individual running a business, that person is the owner, controller and manager of the business. The individual is solely responsible for the business, financially and legally.

What is a company?

A company is a legal entity run by directors and owned by shareholders, with higher setup and administration costs and additional reporting requirements. A company is a separate legal entity.

What is a partnership?

A partnership is a group or association of people who carry on a business and distribute income or losses between themselves.

What is a trust?

A trust is an obligation imposed on a person or other entity to hold property for the benefit of beneficiaries. A trustee is responsible for managing the trust including registering the trust, lodging and paying tax.

Not sure which one is right for your medium to small business structure? Speak to our team for expert advice today.

Currently running a business?

Already set up and wondering if your current structure is ideal as the business grows? Our team can provide practical options for changing the structure of your business, or if it’s needed at all. Alternatively, there may be other adjustments you can make to ensure your business is working the best way possible.

Business advice Sunshine Coast

We pride ourselves on our ability to consider our client's particular circumstances and provide advice on the most efficient and effective structure for their needs. Contact our team on 5471 7077 or complete appointment request form today.

If you need advice in a hurry, we can generally set up a company, trust or partnerships, including registrations, within 24 hours.

More information

Find out more about choosing a business structure on the Australian Taxation Office website - ato.gov.au

More information on registering a company on the Australian Securities and Investments Commission (ASIC) website - asic.gov.au plus details on the difference between a sole trader and a company - business.gov.au

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What Our Clients Think

Bottom line Control, headed by Malcolm Chilman, have been by tax agent/accountant/book keeper for more than 10 years now, and I have nothing but praise for the efficient and cost effective way they go about their work. I have recently given them my SMSF as well and am impressed by the meticulous way he goes about the process of staying within the lines of the over-complex Superannuation law.

Whether it is simple BAS bookkeeping or complex questions of tax law, Malcolm is always there to help. And if he does not know some intimate detail of our almost incomprehensible tax process, he knows where to find the answer.

Every business has the occasional need for a quick answer, so one of the characteristics that I appreciate here, is Malcolm's ready availability, by phone and email.

PA Apartments - Business Accountant Client

Byron Scott

Business Owner & Investor
PA Apartments
40 Wholseley St, Woolloongabba, Qld 4102
Phone: (07) 3891 1742 | Email: info@PAapartments.com.au

Thank you for your support, and assistance over the past several years. I personally feel that from our cooperative services that Ram Automotive has been able to grow toward the sustainable company of which is today.

Bottom Line Control has given myself a great understanding of the companies finances, and also through ongoing fiscal performance meetings. Now knowing what Ram Automotive can expect for the future.

I look forward to an ongoing relationship with Malcolm and Bottom Line control, to secure our future within our community.

Ram Automotive  - Business Accountant Client

Matthew Katterns

Proprietor of Ram Automotive Coolum Beach

We changed all of our financials over to Bottom Line a few years ago and have been quite impressed with the service and advice we have received. Nothing is too much to ask of them. Thank you to Malcolm and staff for being there for us.

Rex and Turtle- Business Accountant Client

Wayne & Penny Rex

Business owners and Property Developers

We switched to Bottom Line Control after realizing that our previous accountant was giving us incorrect advice and charging a premium for it.  We have now been using Bottom Line Control for several years and have found Malcolm to be thorough and reasonably priced.  He always finds ways to save money on our taxes. Malcolm and his staff are highly responsive and very easy to work with.  We highly recommend.

Equathon Horse Riding - Business Accountant Clienti

Alex & Rebecca Watson

Equathon Horse Riding
PO Box 301 Noosa Heads, QLD 4567
Phone: (07) 5474 2665

Thanks Malcolm for saving me the stress of sorting through all the issues of self-employment, and the many confusing deductions and tax items associated with that. Although I was extremely late in lodging my tax return, it was not a problem for you, and you managed to get me a healthy refund when I was sure I was going to have a bill! I will certainly be using your services in the future and have already been recommending you to others.

Kim Anderson  - Business Accountant Client

Kim Anderson

Freelance Journalist (The Anderson Outlook)

I have found Bottom Line Control to be very attentive to the needs of the business and reacts in a speedy manner, getting the job done.

Ricks Pies - Business Accountant Client

Graham Martin

Founder of “Dough Fusion” chain of bakeries and Rick’s Artisan Pies and Sourdough