Business structuring for domaining

[Blue Wren]

Hi all

Newbie question and if it's been done please link me up.

When have you all done to set yourself up to become a domainer?

Speaking mainly about:
Business structure (Sole Trader, partnership, company)

What other relevant information could you share with me regarding these matters.

Thank you kindly.
Blue Wren

 

[Cooper Mills DomainLawyer]

Blue Wren - each person is different, and what is good for one may not be good for another. PM me and I can give you some more information

 

[Shane]

Pty Ltd company for me, although I'll probably look at switching to a family trust later this year.

Personally I prefer company over sole trader due to the separation it gives. Sure it's more expensive to setup and administer, but if you're serious about the business I would go company.

 

[acheeva]

Generic answers are not possible

 

[findtim]

Generic answers are not possible

acheeva is right, there is no simple answer, i've been a company, a business with GST and a soletrader without GST, its just what suits you at the time and now i'm heading back into a company structure which will also sideline a family trust to protect my 2 kids future.

just remember "accountants are NEVER accountable "

its just your decision and depends on what else is going on in your life.

tim