When you decide to establish a business it is first essential that you choose to operate within the appropriate business structure. Should you choose a company, discretionary trust (family trust), unit trust or a combination?
The answer will have a significant impact on the tax you pay and the protection of your assets.
For an overview of the two major structures watch this brief video by lawyer Brett Davies.
Also read the full article on LawCentral in issue 262 of their regular Bulletin (dated 4th May 2009). You will need to pay a small fee to become a platinum subscriber to read the full article. But that’s a small price to pay compared to the tax you could save from what you learn.