Are you 'keeping the right company'?

Is your business in the right business structure? Are your investments in the right investment structure?

The right decision at the start can be critical in terms of tax planning.

Typically the choice is between;

·         Sole trader/Individual

·         Partnership/Joint

·         Company

·         Trust

·         Super fund (effectively a trust for investments only)

You can get combinations of these as well as some exotic hybrid models.

The right choice will depend on;

·         Capital growth

·         Complexity

·         Cost/Benefit

·         Profitability/Tax

·         Asset protection

To summarise the differences between the alternatives would take up all of this edition of 'About'. Sometimes there is no solution that will address all requirements. There may be conflicting requirements and the answer will be one of 'best fit'. The defining question to ask is "What is the most important goal that you want to achieve?". The answer will flow from here.

A skilled advisor can ask the right questions about your circumstances to come up with an enduring  solution that will see you 'keeping the right company'!