4.0
2 Oct 2020
Current employee
Bengaluru
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 you'll have access to a wider capital and skills base.
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.