When is the need to register a Company?

Discussion in 'Accounting & Tax' started by MyDarlinghurst, 28th Jan, 2018.

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  1. MyDarlinghurst

    MyDarlinghurst Well-Known Member

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    i have just gone 50/50 with a work colleague in buying a Commercial property /medical centre/ in Regional NSW.
    We borrowed from the Bank 60 % of the money.

    we would like to get more ,should we register a company pty ltd ?

    is there any benefit with just two of us ?
     
    MyDarlinghurst, 28th Jan, 2018
    #1
  2. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    woah .

    small question, with huge implications

    please seek specific tax, and structure advice

    ta

    rolf
     
    Rolf Latham, 28th Jan, 2018
    #2
  3. Foxdan

    Foxdan Well-Known Member

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    I still haven’t worked out if you just like stirring up **** for fun or whether you are actually legit with your posts.
     
    Last edited: 28th Jan, 2018
    Foxdan, 28th Jan, 2018
    #3
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  4. MTR

    MTR Well-Known Member

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    Who cares... very entertaining. clearly taking the poss..... thanks @MyDarlinghurst .... we don't want vanilla on PC, love your threads... keep them coming
     
    Last edited: 28th Jan, 2018
    MTR, 28th Jan, 2018
    #4
  5. MyDarlinghurst

    MyDarlinghurst Well-Known Member

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    its ok i will ask the Accountant when i go to see him in the next few weeks.
    i have decided to see one who advertises on here now rather than the one i saw last year.
     
    MyDarlinghurst, 28th Jan, 2018
    #5
    Ross Forrester likes this.
  6. Scott No Mates

    Scott No Mates Well-Known Member

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    How is registering a company going to magically get you more from the bank?
     
    Scott No Mates, 28th Jan, 2018
    #6
    Ross Forrester likes this.
  7. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    This is a great example of what occurs when you dont early advice for all those watchers.

    I wonder how the ownership is structured ?
    What happens when the work colleague loses their job and cant financially support things ?
    What would happen duty wise if A wants to sell to B ? Or they want to bring in C ?
    What happens if A + B have a falling out ?
    How will the GST be funded ?
     
    Paul@PAS, 29th Jan, 2018
    #7
  8. MyDarlinghurst

    MyDarlinghurst Well-Known Member

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    Yes thanks Paul.
    you are right and I will arrange a time with your office in the next few weeks to seek your advice on how we can make some rules with our purchase.

    i am a bit concerned now we have already purchased that we have no set rules with my business partner/colleague.eg when to sell etc?
     
    MyDarlinghurst, 29th Jan, 2018
    #8