Company financials can be challenging at the best of times and a real headache at the worst of times.
So don’t cause yourself grief by trying to figure it out by yourself, let a professional help you to understand how it all works and ensure all your paper work is up to date and in order. This will allow you to focus on running your company as efficiently as possible.
At Tick Tax our expert advisors can brief you on the positives of setting up a company and discuss whether it would be the best option for your specific situation.
We can then prepare and set up a company for you to operate under, within 24 hours. Our team of experts can then ensure all your legal obligations are taken care of during the year and all your financials are prepared at year end. By allowing us to prepare your financials during the year we can ensure that when it comes to tax time your tax liabilities are minimised.
Pros of setting up a Company:
- Liability for shareholders is limited.
- Shareholders (family members) can be employed by the company.
- Easy to transfer ownership by selling shares to another party.
- Employee superannuation payments may be tax deductible to the company.
- Favourable tax rates.
Cons of setting up a Company:
- Expensive to start-up and maintain.
- Complex legal and reporting requirements.