Whether starting a new business, undergoing growth or facing change, the ownership and control structure of your business will impact what you can achieve, the amount of risk taken on both personally and professionally, and how much tax you’ll pay.
Common legal structures include sole traders, partnerships, companies, trusts, corporations and incorporated and unincorporated joint ventures; each providing benefits and limitations to be considered within the context of your business’s needs. Most businesses will implement a combination of structures and entities to achieve their desired protections and outcomes.
Even with a solid initial structure, factors inside and outside of your business may force the need to restructure. Restructuring can be complex and must be carefully executed to avoid unwanted tax implications.
In addition to the internal factors driving your business, the complex legal and regulatory landscape of Australian business is to be considered. We stay up to date with best-practice corporate governance trends and can advise on the issues relevant to your business, from directors’ duties to disclosure and reporting requirements.
Our team of commercial lawyers will look at all aspects of your current business model, and the goals for your future, and put in place mechanisms to protect your assets from exposure, maximise tax efficiency, comply with regulatory requirements and see your business flourish. There is no one-size-fits-all approach, and Redchip’s Commercial team will find the right fit for you and your business.
