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Helping You Understand Business Structures
The ATO are committed to keeping things simple and organised for business owners by making a checklist that points out the key differences between business structures.
Business owners who are choosing what business structure to use or are thinking of changing from one structure to another will find this checklist very handy and informative in deciding what structure to undertake.
In cooperation with the Department of Industry and Science and ASIC, the ATO has developed the checklist in order to clear out common misunderstandings of enterprise owners about sole traders and companies.
Taxes, liabilities, responsibilities, asset protection, ongoing costs and staff employment are some of the aspects covered by the checklist.
See the checklist on the ATO’s website.
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