5.0
Sep 1, 2022
Recommend
CEO approval
Business Outlook
Pros
liability for shareholders is limited. it's easy to transfer ownership by selling shares to another party. shareholders (often family members) can be employed by the company. the company can trade anywhere in Australia. taxation rates can be more favourable.
Cons
the company can be expensive to establish, maintain and wind up the reporting requirements can be complex your financial affairs are public if directors fail to meet their legal obligations, they may be held personally liable for the company's debts profits distributed to shareholders are taxable.