Getting your corporate framework right is one of the most critical financial decisions you will make as a business owner, and it is exceptionally easy to get wrong without specialized guidance.
At Empire Accountants, we help Brisbane business owners navigate structure establishment, legal entity selection, and strategic group restructures so your foundations are rock-solid from day one. Whether you are launching a startup, moving from a sole trader to a company or family trust, or restructuring an expanding enterprise, our team delivers transparent, fixed-fee advice. We match your operating vehicle to your exact growth plans, asset risk profiles, and tax minimization objectives.
The structure you choose affects almost every part of how your business runs:
The simplest and cheapest structure. You operate the business under your own name (or a registered business name) and report business income on your personal tax return.
Best suited to: Low-risk businesses, side businesses, contractors testing an idea before scaling.
Trade-off: No liability protection. Your personal assets are fully exposed if the business is sued or goes under. Limited tax planning flexibility, all income is taxed at your marginal rate.
Two or more people running a business together, sharing profits and losses. Cheaper to set up than a company, with shared decision-making.
Best suited to: Small joint ventures and professional partnerships.
Trade-off: Partners are jointly liable for each other's actions and debts. As with sole traders, no separation between business and personal assets.
A separate legal entity from its owners. The company owns the business, pays its own tax (currently 25% for base rate entities), and shields personal assets from business liability.
Best suited to: Growing businesses, businesses with employees, businesses raising capital, or owners wanting limited liability protection.
Trade-off: Higher setup and ongoing compliance costs (including the annual ASIC review fee). Companies don't access the 50% capital gains tax discount, which can matter if you're holding investments.
A trust holds business or investment assets for the benefit of beneficiaries. A trustee, often a company acting as corporate trustee, runs the trust.
Best suited to: Family-owned businesses, businesses with significant tax planning needs, and structures combining asset protection with income flexibility.
Trade-off: More complex and expensive to establish and maintain. Annual trustee resolutions are required before 30 June to distribute profit correctly, and the rules around trust distributions are strict.
Most established businesses outgrow their original structure. Common signs it's time to restructure:
We help Brisbane business owners restructure for three core outcomes:
This is the ability to protect your accumulated wealth from unsecured creditors in the event of personal insolvency. Further, it allows you to use the Corporation Law statutory provisions to ‘walk-away’ from unsecured creditors if the business becomes unviable.
Capping the corporate tax rate, streaming income to lower-taxed beneficiaries, and accessing the capital gains tax discount where appropriate. A well-structured business can legally and significantly reduce the overall tax paid by the family unit.
This is the ability to achieve optimum options and minimal capital gains tax implications and transfer duty when the business is transitioned to the next generation or eventually sold (whether externally or a key employee).
Since 2015, Empire Accountants has set up and restructured businesses across Brisbane and the Gold Coast, from solo traders and family-run
operations to established companies managing complex group structures.
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