Home – New Forums Money matters Starting pty ltd company by yourself Reply To: Starting pty ltd company by yourself

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The reason we want pty ltd is for the legal liability. I dont want any of our personal assets to be affected somewhere down the track, so I am trying to think ahead.

There may be other options to even further limit liability – purely as an example, a Trust with a company as the Trustee. This is why we are all suggesting to get the advice first to make sure that a straight Pty Ltd is right for you and best to keep your assets safe.

An accountant quoted me $295 for an hour consult and then $1440 for the pty ltd application, and another $500 for asic annual fee and then $1100 for annual tax man stuff. Is this about average? Thoughts on this?

I would say this isn’t unreasonable, but, you could probably find lower fees for an initial consult and Pty Ltd set up. You can receive/pay the annual fee yourself, which would save on that fee. The $1100 tax return ‘stuff’ doesn’t seem entirely unreasonable to me.