Have you looked at other trade businesses and noticed that they have been set up differently? Are they a company, a trust or a sole trader? What’s the difference anyway?
What insurances do you need for each different structure? What registrations do you need?
What happens if you are injured at work? Do you have workers compensation? Income protection? Are you even meant to have workers compensation? Is it compulsory under certain structures? SO MANY QUESTIONS!
Do you have assets in your own name? Should they be protected?
Having the right structure is critical for assets protection and tax minimisation.
If you are really serious about your business, this is something that Tradie Troopers can look over and give you the right advice on how to move forward. It’s just as simple as getting your ute serviced. I’ll even shout you a drink or two during the process. Sound like an offer you can’t refuse right?
You don’t want to be working most your life and have one silly mistake that ends up costing you your home that you and your family live in – that is devastating, but I have seen this happen before.