Attention Sole Traders: Make Sure Your Home Is Safe!

by admin on November 16, 2009

Doing business as a sole trader certainly has its advantages.  From the relative ease in setting it up, to the avoidance of possible double income taxation, there is no question that if you wish to start small on your own, perhaps the structure of a single proprietorship or of a sole trader may be the right one for you.

If you dream big, however, and foresee the growth of your business, then you may have to consider the advantages of establishing a limited proprietary company instead of being a sole trader.  Here’s why.

A limited proprietary company is an incorporated entity.  Its existence starts upon the issuance of the ACN by the Australian Securities and Investment Commission (or ASIC).  As a juridical entity, existing corporation laws consider the limited proprietary company as a business set-up that is distinct and separate from that of the sole shareholder or member.

As such, the liabilities of your company do not become your personal liabilities.  Your company’s creditors will not necessarily be your own creditors.  This is particularly important when your business may one day hit a financial down cycle.

And if you are a sole trader and this happens here is where it can get very bad. Go here to find out more about Sole Traders Versus Pty Ltd Formations.

{ 0 comments }

3 Options for Company Registration

by admin on October 9, 2009

Company registration doesn’t need to be complex and can be very simple.

Once you have decided that you wish to set up a Pty Ltd Structure (or been advised) all you need to do to register your new company is to complete simple order forms either online or via printed forms and send them to a registered agent or go to an ASIC office.

There are 3 main options for registering your new company:

  • Lodge a document with ASIC yourself. This is the cheapest option. It will only cost $400. You have to physically go into ASIC offices and apply for the company. As with everything though you get what you pay for. You will only receive the certificate of registration and no legal paper work ie: Constitutions etc
  • Go through your accountant or solicitor, this is a very common option. The only thing to consider here is most of these services use 3rd party providers such as ourselves to register companies and add there costs and extra to the price.
  • Use an ASIC registered agent service such as Companies Now. This is your fastest option which represents great value as you get the legal documentation for the company at great prices. Please note that your personal situation may require you to seek legal council before starting companies but if you know that you will be incorporating then this is a great option.

It really is a simple solution today to register your company and you neednt make it more complex then it is. So to go here to for our company registration service.

{ 0 comments }

Why Should I Get A Website For My Company?

December 1, 2008

It is very well known nowadays that the internet is the largest source of consumers world wide. The World Wide Web creates potential business for every company, so it is important to have a website in order for people to find your company easily. For a small cost you can get yourself a basic website [...]

Read the full article →

If I Have An ACN, Do I Still Need An ABN For My Company?

December 1, 2008

There are many questions that must be asked when creating a new company, and it is not hard to understand why; there are many intriciate processes in starting up a new business or company. One of the biggest questions on company owners minds is whether or not you need to have an ACN as well [...]

Read the full article →

Can A Company Be A Shareholder Of A Pty Ltd?

December 1, 2008

If like so many other people you are interested in shareholding, or about the legalities of shareholders, what the different types of companies and possible shares are and whether or not a company can act as a shareholder of a Pty Ltd then this is the article for you. There are many benefits of shareholding, [...]

Read the full article →

What Are The Costs Involved With Company Registration?

November 10, 2008

If like so many others you are thinking about starting a new company for the first time, you should be aware of the costs that are involved with registration. Registering a company is a lot cheaper than it used to be – only a few years ago you would be paying hundreds more.
You can make [...]

Read the full article →

What Are The Ongoing Annual Fees To Run A Company?

November 3, 2008

If like so many others you are thinking about registering a company, there are a few things you should know about. Firstly, that there are many benefits in registering a company which could apply to you. Secondly, that there are ongoing costs involved which you are required to pay by ASIC.
Your company is deemed to [...]

Read the full article →

Does My Domain Name Need To Match My Company Name?

October 28, 2008

If you are registering a new domain name for your business or company you will want to make sure you read this article.
A lot of people come to us asking should the domain be the same as their company name?
Which certainly is a good question but before we answer that lets just have a quick [...]

Read the full article →

For company formation how many shares are required?

October 2, 2008

It is relatively easy for anyone to set up a new company in Australia.  Registration can be completed online and in as early as one day.  Other business requirements such as business name registration and goods and services tax registration may also be completed online.
Existing corporation laws make it possible to register a company quickly.  [...]

Read the full article →

Is A Public Officer Needed For New Company Registation?

October 1, 2008

While your company is a legal person by virtue of a certificate of registration, it will still need a live human being to perform specific acts on its behalf, like signing and submitting documents.  For purposes of your company’s registration and operations, you will need to appoint a public officer to represent your company in [...]

Read the full article →

← Previous Entries