Business Structures
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Business Entities series: Business Structures. Paper 03.01

Business Entities series: Business Structures. Paper 03.01

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Business Structures Presentation Transcript

  • 1. BUSINESSENTITIES
    Business Structures
  • 2. 1. Operation Of A Small Business
    Sole Trader
    Partnership
    Discretionary Trust
    Unit Trust
    Company
    www.lewistaxation.com.au
  • 3. 2. Sole Trader
    John J Smith
    "John J Smith Nursery"
    Personally liable
    Personal assets
    www.lewistaxation.com.au
  • 4. 3. Partnership
    Liability is unlimited
    Written Partnership Agreement
    www.lewistaxation.com.au
  • 5. Settlor
    Trustees
    www.lewistaxation.com.au
    4. Discretionary Trust
  • 6. Alternative to a Partnership
    Units
    Trustees
    Settlor (may have)
    www.lewistaxation.com.au
    5. Unit Trust
  • 7. Public Company
    Private Company
    Private Company - the most popular entity for small businesses
    One Director and one Shareholder
    Separate legal entity
    Not subject to a time requirement
    Discretionary Trust wound up
    www.lewistaxation.com.au
    6. Company