Business Setup

Company

Why a Company

A company is a separate legal entity from its shareholders and therefore provides some protection over its owner’s personal assets. However, its directors can be legally liable for their actions and the debts of the company if in breach of their directors duty.

A company is a complex business structure and has high set-up and reporting costs. You can form a company as either a private (also known as proprietary) or public entity.

A registered company must have at least one director (and a company secretary unless it is a private company). A director is responsible for managing the company’s business activities.

Advantages and Disadvantages of a company

The advantages of a company include:

  • Limited liability for shareholders.
  • Well understood and accepted structure.
  • Able to raise significant capital.
  • Can carry forward losses indefinitely to offset against future profits.
  • Easy to sell and pass on ownership.
  • Profits can be reinvested in the company  or paid to the shareholders as dividends.  Note that sole-director companies must distribute all profits.

The disadvantages of a company include:

  • Significant set-up and maintenance costs.
  • Do not retain complete control.
  • Complex reporting requirements.
  • Can’t distribute losses to its shareholders.

How we can help

We can assist you weigh up the pros and cons of a Company structure and the key considerations including:

  • Legal obligations
  • Tax obligations
  • Financial costs etc.

If a company proves to be the right structure and its benefits outweighs the costs, we can help deal with all the complexities.

Why set up a company with us

We provide most comprehensive suite of services and documentation for in our company setup package, as follows.

The services included our company set up package:

  1. Registration of the company
  2. Registration of business name (optional)
  3. Registration of ABN
  4. Registration of TFN
  5. Registration of GST (if required)
  6. Registration of payroll withholding tax (if required)
  7. Registration of payroll tax (if required)
  8. Registration of FBT (if required)
  9. Tax planning discussion
  10. Business transition planning

 

The documents included in our company set up package

  1. Certificate of Registration
  2. Constitution
  3. Letter to Commissioner of Taxation
  4. Letter to the Bank Manager
  5. Officeholder Consent
  6. Register of Members
  7. Members Resolution
  8. Share Certificate
  9. Notice of ABN registration
  10. Notice of GST registration
  11. Notice of PAYG registration
  12. Notice of TFN registration
  13. Notice of Payroll Tax registration
  14. Notice of FBT registration

 

Success stories

ethos-logo

How Wilson & Associates helps us with our profit turn-around and growth strategies – by Dr. Watson, CEO, Ethos Health,13/06/2018

A profit turn-around of almost 300%
20% savings on a tax assessment, coupled with 20% annual savings in tax compliance
A rigorous growth budget with full alignment of strategic objectives with executional strategies in terms of people and marketing.

Wilson & Assoc provides robust planning, rigorous performance management, commercial and strategic advice, and helps drive profit and accelerated growth.

Improve cash flow. Maintain high level of trust and confidence with suppliers, during short cash-tight periods.
First year of engagement (F17) – reduce operating loss by 2/3
Second year (F18) turn-around to profit
Wilson & Assoc Chartered Accountants

What we are about

We are passionate about bringing big company financial capabilities to startups and small businesses without the big costs.

Our mission is to help you create the financial future you want for your business, yourself and your family.

Our business is to help you build wealth, increase cash and profits, and grow amazing business.

What our clients say

5.0
on
Wilson & Assoc Chartered Accountants has played a key role in our business turn-around, rapid growth and capital raise. They have provided financial structure and rigour to optimise decisions and outcomes of strategy implementation and performance enhancement. They have brought a new level of financial clarity and confidence to our decisions and choices, both strategic and operational.
Dr Trent Watson
CEO, Ethos Health
After going through many accountants that were hard to reach or just didn't care, I finally found Wilson and his team, who have the time and patience to talk through all of your accounting needs whilst also providing expert business advice. Thank you Wilson & Associates for making the positive difference that our business deserved.
Janalan Seelan
CTO, Booncave
Thank you to Wilson of Wilson and associates for the hard work on my tax returns. The no fuss service was outstanding, considering the hard task that was set to him. My returns predated online lodgement (to the current system) with lots of paper documents and back checking. I highly recommend Wilson to anyone wanting good service and communication, and great outcomes. I will be definitely be using him for years to come.
Stuart Brown
Gardening & Landscaping
Very Happy To have Wilson & Assoc as my Accountant for business and personal maters. Very professional, friendly and most of all he works hard to make sure you get the best outcome with your tax return as well as giving you the best advice to better your business. Always notifying me with every step when working on any procedures to do with my business. Doesn't matter if you are a big business or small you are treated with the same care and respect and given the same service. I highly recommend their services.
Ana Giusti
Restaurant Owner
Wilson & Assoc Chartered Accountants has been of the greatest help to us personally and as small business owners. Their personal service, ongoing support and advice help to simplify accounting and taxation matters from the day to day through to end of year. And it's all done without a fuss.
Andre Ogle
Printing Business Owner
The service is professional, efficient and reliable and we trust Wilson to get the job done right. But most importantly, it’s so nice to deal with someone that is genuine and cares about the things that are important to us. Thank you for looking after us Wilson.
Vivien Chau
Financial Risk Manager
My tax return was done very fast and efficient with all the paperwork included, I would definetly reccomend them.
Michael Antonakis
Ski Sport Photograher
Wilson is a great accountant and extremely helpful know exactly what to do with my finances gives me complete step by step instructions on what to do to get my tax affairs in order. 👍👍👍 highly recommend him
Darren Truong
Clean N Out
Very knowledgeable and professional service. Glad to have finally found a tax accountant that instills confidence.
Dominic See
IT Technician
Finally found an accountant that is courteous and knowledgeable but most importantly efficient with great pricing. He's always willing to look at different avenues to land on a positive outcome for us. We highly recommend his services.
Frank Ribosa
Surfing Accessories Supplier
I have recommended my clients to Wilson & Associates and the feedback has been very positive. Specifically that Wilson was professional, courteous and clearly explained complex tax rules in an easy to understand way, without any jargon. If you're looking for a great a tax agent and accountant, definitely contact Wilson & Associates.
Jason He
Mortgage Broker
Wilson is very professional and had helped me resolved my complex issue with the tax office. I highly recommend him.
Kevin Yeo
Engineering Manager
Wilson is by far the best tax agent I have used. He is quick and thorough and a very friendly person to work with. I have already recommended him to friends and family. Will be coming back again and again
Zana Serdar
Immigration Lawyer
I was very impressed with how thorough and quick they were. It made process smooth and flawless. Definitely going to use them again.
Bryce Taylor
Event Manager
Another year tax return done, thank you for making this yearly experience so easy, fast and professional.
Emer Elias
Receptionist
Very proactive, professional and educates where required.
Kieran Babich
Director, Wash Rider, Water sports supplies

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