Small Business Accountant

Choosing the right business structure is an important decision when setting up your business entity. We can assist you to register a Company, Trust, Partnership and other entity depending on your needs.
Each entity has different implications and accounting methodology that is required at the end of each year. Some allow for greater flexibility than others in terms of the distributions of funds to trustees and beneficiaries.
We can guide you into establishing smart business structures that will work for you. You may find that the best solution to use a company as a business structure; trusts could be a better alternative for your needs. We can register these entities on your behalf to make sure you set up structures that protect assets and minimise tax implications.
Call Reliable Accounting Solutions today to find out more. We are the experts in restructuring and developing strategies to best manage business process that is aligned with your needs and requirements both from a business perspective and for personal wealth.

Want advice on business structures?

There are broadly speaking four structures through which you can operate your business:

Trust? , Company?, Partnership?, Sole trader?

Want advice on business structures?

Sole trader

A sole trader is the simplest business structure. The structure is inexpensive to set up because there are few legal and tax formalities. If you operate your business as a sole trader, you trade on your own and control and manage the business. You are legally responsible for all aspects of the business – debts and losses cannot be shared.


For tax purposes, a partnership is an association of people who carry on a business as partners or receive income jointly. A partnership is relatively inexpensive to set up and operate. A formal partnership agreement is common, but not essential. If you operate your business as a partnership, control or management of the business is shared. Income and losses are shared among the partners. Each partner is responsible for the debts of the partnership, even if you did not directly incur or cause the debt.


An incorporated company is a distinct legal entity, regulated by the Australian Securities & Investments Commission (ASIC). A company is a complex business structure, with higher set-up costs and administrative costs because of additional reporting requirements.


A trust is an obligation imposed on a person – a trustee – to hold property or assets (such as business assets) for the benefit of others. These others are known as beneficiaries. Setting up a trust can be expensive, as a formal deed is required and there are formal yearly administrative tasks for the trustee to undertake. A trust deed outlines how the trust is to operate.
At RAS we can advise the best structure and will take care of Business Registration, Australian Business Number (ABN), Goods and Services Tax (GST), Tax File Number, Fuel Tax Credits, Pay As You Go Withholding Tax, and Payroll Tax.

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