1 Likes
0 Followers

Hi, I'm looking at establishing a business in alternative therapies - likely as a Pty Ltd (to access protection from individual liability). I want to purchase some equipment via the business and need to know what order of events is important to accessing taxation concessions. Do I need to establish the business as a Pty Ltd prior to purchase or would it be sufficient to simply register a business name? Thanks

7 years ago

Responses

Jenny Thai

Current Rating: 5 / 5

Accountant

Pymble, NSW

7 years ago

Hi Christine,

In order to claim the equipment as part of your new business structure, the structure does need to be set up first.

Just registering a business name will be linked to your sole trader (personal name), which will still enable you to claim it if you decide to just operate as a sole trader instead.

If you are planning to set up as a company however, and want to claim it through the company, then it must be up and running.

If you need a hand with setting up the company, please do not hesitate to reach out.

Kind regards,
Jenny Thai
JTR & Associates
02 9144 3180
www.jtrandassoc.com.au
admin@jtrandassoc.com.au

Christine M.

7 years ago

Hi Jenny, Sincere thanks for your advice. To confirm I need to establish the Pty Ltd prior to purchasing equipment if I wish to claim on it.

Any assistance you're willing to provide re. set up of the company would be very much appreciated!

Kind regards,
Christine