Business Structure Review
Includes a review of your current scenario to recommend the best structure, considering factors like liability, tax benefits, and future plans.
- Initial Assessment: Analysis of your existing business (e.g., hobby, sole trader, trust) to identify strengths, risks, and opportunities for improvement.
- Structure Options: Guidance on entities like companies, trusts, or partnerships, highlighting pros and cons such as asset protection, income splitting, and administrative requirements.
- Customised Advice: Tailored recommendations based on your industry, revenue, and personal circumstances to align with long-term objectives.
Restructuring Implementation
We handle the practical steps to transition your business smoothly, from hobby to sole trader or sole trader to company/trust, with minimal downtime.
- Hobby to Sole Trader: Assistance in formalising your side hustle into a legitimate business, including ABN registration, GST setup, and basic compliance checks.
- Sole Trader to Company or Trust: Step-by-step support for incorporating a company or establishing a trust, including ASIC registrations, share allocations and trust deed preparation.
- Asset Transfers: Management of transferring assets to the new entity while maintaining continuity.
- Documentation and Filings: Preparation of all required forms, agreements and ATO notifications to complete the restructure efficiently.
Tax & CGT Implications
We expertly navigate the tax consequences of restructuring, applying concessions and rollovers to minimise liabilities and preserve your financial position.
- CGT Consequences: Detailed assessment of Capital Gains Tax implications from asset disposals or transfers during the restructure.
- CGT Concessions Application: Review of eligible small business CGT concessions, such as the 15-year exemption, 50% discount or retirement exemption.
- Restructure Rollover Relief: Review and guidance on qualifying rollover provisions.
- Ongoing Tax Planning: Post-restructure advice to optimise ongoing tax strategies, including income distribution and deduction maximisation in the new structure.