Business Foundations That Support Growth

 Best for: Individuals starting small or testing a business idea.

Key features:

• Easy and inexpensive to set up 
• You use your personal Tax File Number (TFN) 
• Full control over your business decisions 
• Report business income on your individual tax return
   

Things to consider:

You’re personally liable for debts and legal risks — which means no legal separation between you and the business.

 Best for: Two or more people running a business together.

 Key features:

• Shared income, losses, and responsibilities 
• Requires an ABN and a separate partnership TFN 
• Simple tax reporting through a partnership return
   

Things to consider:

Each partner is personally liable for debts — even those created by another partner.

 Best for: Growing or established businesses ready to scale.

Key features:

• Separate legal entity — protects your personal assets 
• Taxed at the company rate (currently 25–30%) 
• Can employ staff, issue dividends, and retain profits 
• Ideal for succession planning and  investors
   

Things to consider:

Set-up and compliance are more complex, but the tax and asset protection benefits are worth it.

Best for: Asset protection, family business structures, or profit distribution flexibility.

Key features:

• Managed by a trustee (individual or company) 
• Beneficiaries receive income distributions 
• Excellent for tax planning and wealth protection
   

Things to consider:

Requires a trust deed and ongoing record-keeping. More complex setup but powerful long-term advantages.

 Best for: Those wanting control over their super investments.

Key features:

• You make all investment decisions (property, shares, etc.) 
• Must comply with the Superannuation Industry (Supervision) Act 
• Annual audit and financial reporting required
   

Things to consider:

Running an SMSF is a serious responsibility — but also an incredible opportunity to build wealth strategically.

 Best for:  Layered structures, and sophisticated investment strategies. 

Key features:

• Multiple entities (SMSF, company, trust, and individuals) 
• Higher compliance, reporting
• Reliance on accurate administration and timely advice
   

Things to consider:

Complex structures offer powerful strategic advantages, but disciplined administration and proactive compliance.