Businesses

Things you should know about your entity structure

Sole Trader

  • Not compulsory to pay superannuation
  • Not required to have work cover
  • No asset protection
  • No income streaming available

Pty Ltd Company

  • Compulsory to pay superannuation on all wags and director fees
  • Compulsory to have a work cover insurance policy for all wages, director fees and sole trader contractors that total more than $7,500 (not including apprentices).
  • Pay ASIC fees of $212 annually and notify of any changes with 14 days.
  • Asset protection and income streaming available (conditional)

Family Trust with Corporate Trustee

  • Not compulsory to pay suppuration on trust distributions
  • Compulsory to have a work cover insurance policy for all trust distributions to working beneficiaries, wages and sole trader contractors.
  • Asset protection and income streaming available (conditional)