REMINDER: School zones will be operational again from Monday, 30 January 2017.
40km/h school zones help protect children on their way to and from schools at the times and places where they are often in high numbers. School zone signs, pedestrian crossings and dragon’s teeth road markings improve the visibility of school zones.
Those making a long weekend out of the upcoming Australia Day celebrations this Thursday are reminded of the double demerits points scheme that applies for driving offences, including:
The scheme is designed to encourage safe and responsible driving and will apply from 25 – 29 January 2017 inclusive as well as on other long weekends and holiday periods throughout the year. Drive safely.
Before starting a new business, the first thing that you need to consider is the structure of the entity to operate the business.
There are numerous options to choose from, such as:
This is when it can pay to get good accounting/taxation, financial planning and legal advice as there are advantages and disadvantages associated with each type.
WHICH STRUCTURE IS THE BEST?
There is no right or wrong answer to this necessarily, although some are preferred more than others.
To determine the most appropriate structure, you need to consider what is most important for you and your family and things such as what assets/business you already have interests in, whether you intend to be in business with others or you’ll go it alone, how you intend to run the business and whether it is a long term plan or whether you intend to quickly build and sell it.
Each option has different qualities, including:
OTHER THINGS TO CONSIDER
Once the structure has been determined, and depending on the structure to be adopted, other things that need to be covered off include:
FURTHER INFORMATION
Craig Pryor is principal solicitor at McKillop Legal. For further information in relation to starting or buying a business, drafting business documents or any other commercial law matter, contact Craig Pryor on (02) 9521 2455 or email craig@mckilloplegal.com.au.
We found Fionne to be highly skilled in providing estate planning and business succession advice to us. She was responsive and really took her time in answering our questions and explained everything in a way that we could understand. We feel at ease now that we know our three young children will be cared for financially in the event that something happens to us.
