Re: Choosing the structure of your business
Hi Shade,
The most obvious positive item about incorporating is the separation of personal assets. Unless you provide a personal guarantee to a creditor, all of your personal assets are generally safe from any possible liquidation, litigation etc.
If you have a spouse that isn't working or is only part time, you can also distribute earnings to assist with tax reduction.
As everyone has said, talk to an Accountant who can walk you through how, why and more importantly, if, you should incorporate.
I set up my own Pty Ltd Company online through a local Adelaide company and it was only about $700.
Good luck with it!
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