Business Startup & Management Rights
Business Startup
Selecting the correct business structure when commencing a business is very important.
- Sole Trader
- Partnership
- Company
- Trust
Which structure best suits your purpose depends on your personal circumstance. It is best to make an appointment to discuss your individual needs. I do not charge for an initial consultation of an hour or less.
As a general principle all new operating structure require registration for:
- TFN
- ABN
- GST
- PAYG Withholding
Consideration must also be given to:
- Work Cover
- Public Liability Insurance
- Income Protection Insurance
- Professional Indemnity Insurance
- Protection of Intellectual Property
We are not qualified to advise on all of these items but as a general rule we can direct you to someone who is qualified in the field of your concern.
Management Rights
With the purchase of Management Rights it is essential to have a Legal Due Diligence and a Financial Due Diligence.
I have carried out several hundred financial due diligence. As a general principle I track the income derived by the manager from their trust account to their banking and to their profit and loss for the period covered by the sales contract. I also produce an estimate of the profit and loss and the cash flow for the next twelve months based on the current rent roll and the current executed Form 20a.
I also check the current Form 20a to determine that they have been executed properly as well as being assignable to the new purchaser.