BUSINESS STRUCTURES

Course objectives

• Explain the core features of sole traders, partnerships, companies and trusts in the Australian context.
• Apply a structured decision process to match a business structure to client goals and risk settings.
  Identify key tax and compliance obligations that differ by structure, including registrations and reporting.
• Recognise common risk areas, including profit extraction, private use of funds, and integrity rules.
• Plan for change by outlining practical steps and the major tax consequences associated with restructuring.

Learning outcomes

• Compare business structures using consistent criteria, including liability, control, tax treatment and compliance effort.
• Select an appropriate structure for a given scenario and justify the selection based on commercial and tax considerations.
• Describe the ongoing compliance tasks for each structure and the common triggers for review.
• Spot red flags in profit distribution and funding arrangements and propose compliant responses.
• Outline an implementation checklist for establishing or restructuring a business structure.