Business Structure

To pay your business taxes, claim deductions for business expenses, open accounts and trade legally, you need to choose the business structure that will be right for you.

Step-By-Step: How to Register Your Business How to choose a business structure and protect your business.

For new businesses, the three most popular structures are:

Sole trader

Explains what a sole trader is and how this type of business operates. Includes details on the registration of business names, liability, taxation issues and a list of advantages and disadvantages to being a sole trader.

Partnership

Provides definitions of partnerships. Explains partnership agreements, taxation issues, details of unlimited liability and lists some advantages and disadvantages of partnerships.

Company

Describes a company structure and how one is established. Provides advantages and disadvantages, as well as issues regarding liability, taxation, company names, trademarks and registration.

You may also want to consider the following structures:

Trust

Defines what a trading trust is and how one is established. Provides a list of advantages and disadvantages to operating a trading trust.

Association

Information about incorporated associations, how they operate and the organisations most suited to this structure. Includes some of the benefits and drawbacks of incorporation, provides directions for conducting online transactions and information about incorporated Aboriginal associations.

Cooperative

Outlines the cooperative structure and explains how this differs from other business structures. Lists the pros and cons of using this structure and provides a guide to the statutory and common law duties of a cooperative director.

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