Starting a new business: But what structure should I have?

Clear Vision • March 14, 2016

When starting a business it’s very important to choose the business structure that best suits your needs.

The four business structures commonly used by small businesses in Australia are: sole trader, partnership, trust and company.

The structure you choose may affect things like the tax you are liable to pay, asset protection, ongoing business costs, and dealing with your clients.

Typically, costs and complexity increase as you move from a sole trader to a partnership to a company or a trust.  On the other hand the flexibility achieved from a trust and company structure when it comes to tax time might outweigh the cost and complexity concerns.

If you’re not sure which structure to choose, you should talk to an expert, such as an accountant or a solicitor.  You may even ask these two advisors to discuss the issue together to arrive at the ideal recommendation for your situation.

This is one time when you shouldn’t put off seeking advice.  Starting out with the wrong structure can greatly hinder the future growth and operation of your business and prove costly to change if you’ve been operating for some time.

Call Clear Vision for a preliminary meeting to discuss how you might structure your new business.

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By Caroline Gillies • July 13, 2025
Running a business isn’t just about making sales — it’s about making enough sales to cover your costs and pay yourself what you deserve. But how do you figure out how much turnover (aka revenue) you actually need to make each month? Knowing this number helps you: Set realistic sales targets Price your products or services properly Know when to cut costs or increase margins Understand when your business is sustainable This isn’t just about numbers — it’s about clarity and control. Once you know your required turnover, you can stop guessing and start planning. Whether you’re a solopreneur, a growing startup, or a small business owner, this is the foundation of making your business work for you — not the other way around. We love numbers — seriously. And we get that not everyone does. If you need help breaking things down in a way that’s simple, practical, and actually makes sense (even if numbers aren’t your thing), call Clear Vision Accountancy Group today on 4688 2500.

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By Caroline Gillies • June 22, 2025
From 1 July 2025, the Superannuation Guarantee (SG) rate in Australia will increase to 12%. This means employers will be legally required to contribute at least 12% of an eligible employee's ordinary time earnings to their superannuation fund. This increase is the final step in a legislated rise from 9.5% in 2021 to 12% by 2025, aimed at boosting retirement savings for Australian workers. If you use Xero for payroll, the SG rate should automatically update in the system. However, we recommend you double-check your payroll settings to ensure everything is correct. If you’re unsure or need assistance, please contact your bookkeeper or get in touch with us at: Clear Vision Accountancy Group (07) 4688 2500 We’re here to help you stay compliant and avoid any costly errors.

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