Expert financial structure advice
There are many different ways to structure a medical business. Your choice of structure will depend on the size and type of business and how you want to run it. You need to start your business with the right foundation to achieve your goals, and we can give you the business structure advice you need.
√ Business structures choices
√ Separation of business risk
√ Business risk mitigation
√ Flexibility of structure
√ Maximize assets protection
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Tax and Financial Strategy Review
Business Structure Options
Making the right choice of business structure will substantially mitigate the risk associated with a medical business. We will take the time to fully understand your medical business and its goals before sharing the best suitable advice.
Our team would help you to understand how the different business structures mitigate business risks and support business goals.
Set-up your business with a right foundation
A Wealth of Experience
We have a wealth of experience in setting-up a business structure for healthcare sector clients and supporting them to achieve their goals.
We have a wealth of experience in setting-up a business structure for healthcare sector clients and supporting them to achieve their goals
Capability
We have a wealth of experience in setting-up a business structure for healthcare sector clients and supporting them to achieve their goals.
Our team members are well qualified to provide the very best services and advice.
Long-term client partnership
We have a wealth of experience in setting-up a business structure for healthcare sector clients and supporting them to achieve their goals.
We’re not just your business accountant, we can help you set your wealth goals and give you the best foundation for success.
Medical Business as a Sole Trader
A sole trader is the simplest form of business structure and is relatively easy and inexpensive to set up. As a sole trader you’re legally responsible for all aspects of your business including any debts and losses and day-to-day business decisions.
When it comes to fulfilling your sole trader taxation and accounting obligations, we understand the unique challenges you face.
Our comprehensive range of business accounting services is designed to help you structure your business for maximum efficiency, while enabling full compliance with the latest taxation laws.
√ Tax compliance and returns
√ Bookkeeping and Financial Statements
√ Business Activity Statements
Medical Business under Company Structure
A company business structure is a separate legal entity, unlike a sole trader or a partnership structure. This means the company has the same rights as a natural person and can incur debt, sue and be sued.
As a member you’re not liable (in your capacity as a member) for the company’s debts. Your only financial obligation is to pay the company any amount unpaid on your shares if you are called on to do so. However, directors of the company may be held personally liable if found to be in breach of their legal obligations.
Companies are expensive and complicated to set up, and generally suit people who expect their business income to be highly variable, and want the option to use losses to offset future profits.
We can help you to meet your obligations for full business efficiency, with advice on:
√ Tax compliance and returns
√ Bookkeeping and Financial Statements
√ Business Activity Statements
√ ASIC requirements
Medical Business under Trust Structure
In a trust structure, a trustee holds your business for the benefit of others (the beneficiaries).
A trustee can be a person or a company, and is responsible for everything in the trust, including income and losses.
Trust structures are expensive and complicated to set up, and are generally used to protect the business assets for beneficiaries. The trustee decides how business profits should be distributed to the beneficiaries.
Trusts are complex to set up and you’ll need time and the right skills to do it properly. It’s best to see a qualified, licensed professional to help you understand what’s involved and the registrations you’ll need.
We can help you to realise and fulfil your trust obligations, with advice on:
√ Tax compliance and returns
√ Bookkeeping and Financial Statements
√ Business Activity Statements
√ ASIC requirements