Yes, it is possible to change the structure of your company or trust in the future, but it can involve legal and administrative processes. Consulting with professionals, such as lawyers and accountants, is advisable to understand the implications and requirements of changing the structure and to ensure compliance with relevant laws and regulations.
Overview
Establishing a company and trust in Australia is crucial for protecting assets, minimizing taxes, enhancing credibility, facilitating succession planning, attracting investors, ensuring compliance, and providing flexibility in income distribution. These legal structures offer a range of benefits and advantages, promoting stability and growth in the business environment.
SERVICES WE OFFER
At Nanak Accountants & Associates, we specialize in providing tailored assistance to businesses seeking company and trust setup services. Our team of experienced professionals is committed to helping you navigate the process with expertise and efficiency. Here's how we can support you:
1. Expert Guidance 2. Compliance Assurance 3. Efficient Record Keeping 4. Streamlined Setup ProcessPROCEDURE
Business Structure: Choose the most appropriate structure for your needs, whether it's setting up a company and trust separately or establishing a company as a trustee for the trust. Seek professional advice to determine the best structure for your specific situation.
Name Availability: Check the availability of your chosen company name with ASIC to ensure it is unique and complies with ASIC's guidelines. Register the company name to secure it for your use.
Legal Documentation: Prepare and submit the necessary legal documents, such as the company constitution, trust deed, appointment of trustees, and any other relevant agreements. Seek legal guidance to ensure compliance with legal requirements.
Registrations: Register the company with ASIC and obtain an ABN through the ABR. If applicable, register for GST with the ATO. These registrations are essential for legal and tax purposes.
Ongoing Compliance: Understand and fulfil your ongoing compliance obligations, including lodging annual reports, tax returns, and financial statements with ASIC and the ATO. Stay up to date with regulatory changes that may impact your business.
CONTACT US:
Location: 1/16 Prosperity St Truganina 3029 VIC
✉Email: info@nanakaccountants.com.au
Phone: +61-1300 626 258
FAQ
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Can I change the structure of my company or trust in the future?
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Do I need to register a company and a trust separately?
It depends on your specific circumstances and business goals. You have the option to set up a company and a trust separately, with the company acting as a trustee for the trust. Alternatively, you can establish a company that acts as both the trustee and the business entity. Consulting with a legal or financial professional will help determine the most suitable structure for your needs.
Contact us today for a tax consultation and let us be your reliable tax accounting ally in achieving financial prosperity.
Services
Contact Info
1/16 Prosperity St, Truganina VIC 3029
09:00 AM to 05:00 PM
Monday - Saturday
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