What Type of Business Structure Should I Use | The Best Entity for Running a Business or Investing

A very important question to answer early is, what type of business structure should I use. Choosing the correct structure for your business or when investing can help you minimise tax and protect your assets. There are a range of different areas you need to consider when choosing a business structure. These include who will be involved in the entity, what your goals are and what type of business you are running. In this video I discuss the main types of structures in Australia, Companies, Trusts, Partnerships and Sole Traders, as well as how choosing the right structure can save you significantly.
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💼 How I Track My Crypto Investments for Tax Time
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📈Digital Surge (Australian Based Crypto Exchange) -
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📖 Chapters
0:00 Intro
0:32 The Main Structures in Australia
1:06 Sole Traders
4:48 Partnerships
7:27 Trusts
9:47 Companies
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Ethan 'Rooshock' (Rucioch) is an Australian business owner in his mid 20's. He is the owner and director of Rooshock Accounting, an accounting firm. He is also the creator of an NFT project, Rooshocks. In his spare time, he enjoys travelling as well as watching countless hours of sport. On this channel you will find a range of different content, including personal finance, business advice, tax tips, crypto tax tips, NFT discussions and even some social media marketing content.
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Disclaimer
The information in this video and on this YouTube channel is for entertainment and general information purposes only. It should not be taken as constituting professional advice. You should not rely on it as financial advice. There are always risks in any financial decision and all decisions should be made on an individual basis. You should conduct your own research and seek independent professional advice where needed. Some of the links in this video or video description may be affiliate links. Ethan Rucioch, Rooshock Enterprises Pty Ltd, Rooshocks Pty Ltd or any other related party may receive a commission through these.
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#businessstructures #businessentity #taxagentaustralia

[herpennypotential]

Great breakdown - relevant for outside Aus too!! haha👌

[Neil.Denize]

Great video mate, you have a good knack for breaking everything down into an easy to understand format, and when it comes to these different structures it can be a bit to wrap your head around I know when I first looking into it all I was scratching my head a bit lol.

[Larrygu]

Good video, you're really good at breaking things down. Keep up the good work!

[GuidedInvestor]

Im liking these tax structuring videos! I operate my business via a family trust with a corporate trustee 👍

[unorthodoxsavings]

Great video, Australia’s tax codes seem to be better then where I live in the US, I had a phase of watching shark tank in Australia and seeing some of the deals made me jealous 😂

[coinsncrypto]

Can you please do a video about how to pay your under 18 children if you have a business, thanks