Register as a Company, a structure that’s an entity of its own. A company lets you mix up management, with some good tax breaks to be had.

C

Company Package

$
799.00AUD
(One time cost)*

Package Inclusions

  • Company ABN Registration
  • ACN registration
  • Domain Name Registration (2 years)*
  • GST registration
  • PAYG Reminders
  • TFN for Business

Extras

  • Company Register incl ASIC Certificate & Documents (PDF)
  • 12-month access to Adminimiser
  • Registration renewal reminders
  • Secure online business document storage
  • Access to our custom educational guides + resources
  • Veromo Welcome Pack incl. hard copy registrations

*Includes 1-2 year registrations. After this term, we can renew them for you.

What it means to be a company

This is probably the most recognisable business structure. A company operates as a completely separate legal entity, distinct from its owner. The shareholder/s own the company, the director/s govern the company’s activities and, as owner, you could wear both these hats. Expect extensive ongoing admin and regulation but also some good tax breaks, and limited personal responsibility for any liabilities, like company debts.

Why being a company is right for Lakeside Prestige Real Estate

Sharon, Joseph and Michael

Sharon, Joseph and Michael

Starting a Company

Lakeside Prestige Real Estate is owned by 3 equal shareholders- Sharon, Joseph and Michael. The 22 real estate offices and their 100 employees are overseen by two directors, Amelia and Geoff.  

A company was established after the 3 shareholders decided to unite their independent real estate agencies. This structure ensures that the business operates entirely as it’s own entity. It was more expensive to set up compared to other business structures, however, due to the size and the number of people involved in the business it was the essential choice.

Running  a Company

Running a company is complex because different laws, legislations and tax rules apply. Lakeside Prestige Real Estate had to be registered with ASIC and must submit its own annual company tax return along with being registered for GST because the company earns over $75,000 PA. Different tax rates apply and the company has both an ABN and ACN.

However, there are benefits to a company structure. The liability of the business is limited to the company itself, meaning the personal assets of the shareholders and directors are not in jeopardy if things turn sour. 

In the early years of business Lakeside Prestige Real Estate experienced company losses, these losses were later used to offset the amount of tax owing, meaning the company was able to invest in opening another office.

Growing a Company

A company can grow by calling for investors or it can be sold or acquired.

Pro's and Con's of being a Company

Get excited about:

  • Reduced personal responsibility for business debts and other liabilities
  • Easy to raise capital / investor interest
  • Flexible business management style
  • Flexible distribution of profits (can be reinvested in company, or paid out in dividends)
  • 30% company tax flat rate + company tax credits + good tax deductions
  • A company is easy to sell or pass-on

But keep in mind:

  • Increasingly, lawmakers are holding company directors responsible for liabilities
  • Lenders will often ask you for a personal guarantee
  • High level of compliance paperwork + ongoing record keeping
  • More complicated set-up / establishment processes
  • High operational costs

Register as a Company today

Get Started

Compare Business Structures

What's The Difference

Compare Business Structures

Company
Sole Trader
Partnership
Ownership & Profits
A company is owned by shareholders, and run by directors - both could be you. Profits are shared.
You get total ownership and control of the business, and its profits.
Partners own and run the business together. You get joint control and profits.
Setup & Paperwork
Increased tax and legal formalities = more complex set-up process and ongoing paperwork.
Easy to set-up, simple to run.
Few tax and legal formalities = relatively simple to set-up and run.
Compliance
High levels of regulation, with additional record-keeping requirements and other obligations.
Less formal or legal processes, with little ongoing red tape.
Less formal and legal processes, with little ongoing red tape.
Liability & Risk
Your liability is usually limited to your ownership share. Increased protection from risk to your personal assets.
You’re personally responsible for all debts incurred by your business, putting your personal assets at risk.
Partners responsibility for all debts incurred by the business (regardless of ownership share) putting your personal assets at risk.
Setup Cost
A company can be expensive to establish and maintain.
Establishment costs are low.
Establishment costs are low.
Raising Capital
Easier to attract funding and investors. Wider capital-raising opportunities.
Your ability to raise capital is limited.
You have greater borrowing capacity.
Tax Basics
Your personal income is taxed lower than the top personal tax rate. The company submits its own tax return, with good tax breaks to be had.
Your net profit is taxed at individual rates, or your overall income tax is calculated at personal rates.
You are taxed as an individual on your income from the partnership, but the business will also need to lodge a separate partnership tax return.