Company structure

A company structure is a separate legal entity and more complex to setup and operate than other structures.

Key features

If you are looking at starting a company structure, consider the following key elements:
  • A company is a separate legal entity.
  • A company is a more complex business structure to start and run.
  • It involves higher set up and running costs than other structures.
  • You are required to understand and comply with all obligations under the Corporations Act 2001.
  • Business operations are controlled by directors and owned by the shareholders.
  • Company shareholders have limited liability.
  • The money the business earns belongs to the company.
  • An annual company tax return is required to be lodged with the ATO.
  • Your are required to complete an annual review and pay an annual review fee.
  • Directors are required to complete a declaration of solvency each year.

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I’m Sharon, a registered BAS agent and QuickBooks Certified Advanced with more than 20 years' experience in the industry.Get in touch to find out how I can support you and your business to stay on top of your numbers to run a successful business.
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