Corporate Accounting & Tax.

There are multiple structures available when it comes to deciding how to operate your business. All the various structures deal with business income in different ways and as such, your tax obligations will vary depending on the type of business structure you have put in place. It can be important to choose the most suitable structure at the start to avoid costly restructuring and unwanted costly tax consequences. 

What is right for you will ultimately depend on what you are trying to achieve and on your unique situation.

Company Tax.

Benefits of operating a Business as a Company.

If you are starting a business, you have many options when it comes to how you want to run your business. Operating as a sole trader is generally the cheapest and easiest option, however there are several key benefits to operating a business via a company structure.


Lower Tax Rate.

Companies have a flat corporate tax rate ranging between 26% and 30%. The company tax rate is lower than the highest tax rate for individuals, currently 45%, plus the 2% Medicare levy. However, depending on the business activity, there may be other tax rules to consider, such as Personal Services Income (PSI) rules. To learn more about PSI, read our article here.


Asset Protection.

Companies can also be used to protect assets as liability is limited to the nominal amount of the shares in the company, meaning an individual's assets are generally not at risk and the director is not personally liable. There are exceptions to this with DirectorPenalty Notices (DPN), where a company director can be held personally liable for 3 types of company debt; Pay As You Go (PAYG), Super Guarantee Charge(SGC), and Goods and Services Tax (GST). 


Tax Deductions. 

Companies can be a more tax-efficient way of structuring your business depending on your circumstances.When you do your company tax return, you can usually claim most of your business expenses as tax deductions. 

Company Tax Returns. 

A company structure is generally more complex than other types of business structures and as a result company tax returns can be more complicated. A company is a separate legal entity and is required to lodge an income tax return. If you are running a business as a sole trader, it might be time to consider forming a company structure.

Reach out to us for more information.

Partnership Tax.

Benefits of operating a Business as a Partnership. 

A partnership is a business structure involving two or more people who have agreed to distribute income or losses between themselves. Some of the benefits of partnership structures are: 


Tax Deductions on Personal Income Tax Returns. 

Individuals can claim their share of the partnership business losses on their personal tax returns.


No Financial Reporting Obligations.

Generally, there are no financial reporting obligations, which makes partnerships relatively cheaper and less burdensome to run in terms of the compliance obligations. However, keeping good financial records is best practice and we can assist you with this. 


Easy to Prepare.

Partnerships are required to prepare and lodge a partnership tax return. A partner’s share of partnership income is included in their individual tax return. Many small business tax deductions and concessions are available and can apply to partnerships.

Cons of operating a Business as a Partnership.

While there are benefits to running a business as a partnership, there are also several cons as well:


It can be difficult to add or remove partners.


There is unlimited personal liability.


Each partner is taxed at their individual marginal tax rates where a company is taxed at a flat lower corporate tax rate.

Partnership Tax Returns.

Partnerships can be ideal for business partners who want to run their business as individuals and don't want to have to worry about company structures, additional corporate compliance, and the rigid reporting obligations that come along with running a business via a company structure. 

The partnership does not pay tax on its income. Rather, each partner pays tax on their share of the partnership’s net income according to the individual tax rates that apply to that partner. A formal partnership agreement is an important tax document if profits and losses are not necessarily distributed equally among the partners.

Trust Tax Return.

Benefits of operating a Business via a Trust.

Of all the business structures, trusts offer the most flexibility. In addition to being used to operate a business, trusts can also protect and preserve your assets, customise how wealth is distributed, and address family dynamics, such as divorce or blended families. 

A trust can also employ people. 

Trust Tax Returns.

Income tax is not paid by the trust as an entity but is paid by beneficiaries. Goods and Services Tax (GST) may be applicable. 

There may be tax planning, asset protection, and estate planning considerations. A trust requires an official Trust Deed to be prepared and executed. We can assist with the setup of a trust.

BAS Returns.

Regardless of what structure you use to operate your business, you will likely need to lodge a BusinessActivity Statement (BAS) on a quarterly or monthly basis to declare any GST your business has collected from its clients.

As well as report PAYGWithholding if you employ people and to pay your PAYG instalments.

Financial Statements.

We have extensive experience preparing financial statements and can work with you or your bookkeeper to ensure the balance sheet, income statement, and cashflow statements are up to date. We have in-house bookkeepers if you require complete bookkeeping services.

Business Strategy & Consulting.

In addition to assisting you with the preparation and lodgement of your business tax returns and business activity statements, our qualified accountants are small business experts and can help you with business strategy, whether it be setting up a business, dealing with multiple business partners and unique family situations, or preparing an existing business for sale or IPO.

Our accountants have extensive experience working with small businesses through to unlisted public companies and everything in between.

New Company Setup.

Not sure which entity structure is right for your business and unique situation?

We can advise you on the best suitable structure for your new business given your situation. We can also help with the setup, on-going compliance and management of the corporate accounting and tax returns for your business.

We can assist with the following:

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Incorporation of a company

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Corporate compliance, including providing registered office service

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Trust, Partnership, or Company Setup

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Tax File Number Application

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ABN Registration

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GST Registration

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PAYG Withholding Registration

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Fringe Benefits Tax Registration

Compliance services related to your business's tax return are as follows:

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PAYG withholding annual reports

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Fringe Benefits Tax return

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GST annual return

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Taxable Payments Annual Report (TPAR)

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Business Activity Statements

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Instalment Activity Statements

ASIC Corporate Secretarial.

The Australian Securities and Investments Commission (ASIC) regulates the conduct of Australian companies and it's important you comply with their regulations as a director of an Australian company.

We can act as your ASIC Registered Agent and assist you with corporate secretarial matters when required, such as:

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Appoint an ASIC Agent (we can act as your agent on your behalf)

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Share Structure Change

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Company Name Change

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ASIC Voluntary Deregistration

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Update officeholders and member details

About Causbrooks.

Causbrooks is a registered tax agent with tax accountants who have decades of experience working with businesses and all tax entities, whether it be trusts, partnerships, companies, or sole traders.

Get in touch with us to set up a consultation or use the contact form on this page to inquire whether our services are right for you.

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View our other services.

Personal Tax.

We prepare individual tax returns daily and can pick up things you may have missed, including deductions and relevant eligible rebates, offsets, and credits.

Self Managed Superannuation Funds.

A Self Managed Super Fund(SMSF) works like any other super fund, with the crucial difference that the responsibility of managing the fund, (including its investment decisions and legal responsibilities) rests solely with the trustee (member).

Contact us today for a consultation.

Contact us today to learn more about how our accounting services can benefit your business. We look forward to hearing from you and helping you achieve financial success!