Comments on: What is a pty ltd company?

By: admin

admin — Mon, 12 Sep 2011 00:13:17 +0000

Hi Lee,

You can have a parent company and then have 2 separate business names
operating underneath it.

In some situations it may be best though to have them totally separate,
so speak with a lawyer or accountant about your goals and position of the
businesses to get the best advice.

Richard

By: admin

admin — Mon, 12 Sep 2011 00:09:42 +0000

Hi Ravi,

Thanks for your enquiry. If you are going to invoice through the
company you will need a separate bank account.

Yes your wife can also be the director.

Regarding the distribution of funds you are best to speak with
your accountant as to what is best for your particular situation.

You can purchase a car through a company, there are conditions
that you must adhere to, but again your accountant will be able
to clarify these with you.

Regards

Richard

By: Ravi Rengasamy

Ravi Rengasamy — Sat, 10 Sep 2011 03:29:21 +0000

Having PTY company, do we need to open a diffrent bank account,
If my wife is the director and I am the operational manager can my wife be the secretary as well?
How do we get paid individuly?
Can we buy a car under the company and claim GST/Fuel usages
Regards
Ravi

By: admin

admin — Sun, 26 Jun 2011 21:42:43 +0000

Hi Nazrul, Yes you can form a company with your wife as a shareholder or secretary. The minimum shares is 1 share and that share can be as little as .001, on average most of our clients nominate a $1 sahre value.

By: admin

admin — Mon, 06 Jun 2011 23:14:56 +0000

Hi Vanessa,

To keep it simple a director must run the company ethically and do his or her best to ensure that the company is run without
doing anything that can jeopardize the business, such as shady business dealings etc.

If the director has managed to do that and the business for some reason stands to be sued or go bankrupt then the liabilities of the
director are only the assets of the company and not their personal assets.

If on the other hand the director was found to have illegitimate dealings then they are likely to expose their personal assets.

By: admin

admin — Mon, 06 Jun 2011 23:10:21 +0000

Hi Ray,

If you cannot start a Pty Ltd company due to not having an Australian company then that may be the case.
It would be worth clarifying with the company if you cannot still invoice them through an international company.

By: admin

admin — Mon, 06 Jun 2011 23:08:14 +0000

Yes a non Australian can be a majority shareholder of a Pty Ltd Company. You just need to have
1 director who resides in Australia.

By: P.SAN

P.SAN — Mon, 06 Jun 2011 11:52:29 +0000

Can a non-aussie be the majority shareholder 95% of a Pty Ltd and have a aussie Director with minimal shares, i.e 5%? to avoid liability of aussie director on debts…

By: admin

admin — Sun, 13 Feb 2011 23:23:28 +0000

Hi when you register a company with the ASIC you will receive an ACN number.

From there if you wish to register for GST you will need to register for an ABN number.
An ABN allows you to:

* facilitate a single Business Activity Statement
* confirm your business identity to others when ordering and invoicing
* avoid PAYG tax on payments you receive
* claim GST credits
* claim energy grants credits
* obtain an Australian domain name.

Regards

Rich

By: Satinder

Satinder — Sun, 13 Feb 2011 08:09:29 +0000

Hi,

Do I need ABN or ACN for registering my PTY LTD company with ASIC (Australian Securities and Investments Commission)