{"id":1837,"date":"2018-05-07T17:05:37","date_gmt":"2018-05-07T07:05:37","guid":{"rendered":"https:\/\/cruzandco.com.au\/?p=1837"},"modified":"2018-05-07T12:04:58","modified_gmt":"2018-05-07T02:04:58","slug":"many-factors-consider-starting-business","status":"publish","type":"post","link":"https:\/\/cruzandco.com.au\/many-factors-consider-starting-business\/","title":{"rendered":"The Many Factors to Consider When Starting a Business"},"content":{"rendered":"
By:\u00a0Max Newnham<\/strong><\/p>\n <\/a>It doesn\u2019t matter whether a business is started from scratch, or any existing business is purchased, there are a number of factors that must be considered. Although one of the main considerations is maximising tax benefits for the owners, there are other matters that must be considered.<\/em><\/p>\n Q. My wife and I are about to set up a small tourist accommodation business that requires buying land and building accommodation units. We will also build a home for ourselves on the same land. We will borrow money to assist in the land purchase and construction costs. We will engage two cleaners for the rooms and we will also draw wages. I project we will make a loss for the first year.<\/strong><\/p>\n From a tax perspective should we form a company to buy the land, develop the assets and employ us, or should we simply operate as sole traders using an ABN, or do we borrow, buy the land and develop the assets in our names then lease the facilities to a company which operates the business?<\/strong><\/p>\n