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Deborah Awyzio
Deborah Awyzio, Solicitor
Category: Australia Law
Satisfied Customers: 863
Experience:  Bachelor of Laws (QUT), BIT (QUT), Family Law Accredited Specialist, over 12 years experience
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I do freelancer work under a sole trader ABN (I have

Customer Question

Hello, I do freelancer work under a sole trader ABN (I have only made a few thousand dollars so far). I also have a company registered in my name which I estimate to make maybe $50 - 60k within the next year. So my confusion is around this - I am setting up a company at the moment which is starting off as an affiliate marketing company, so the morning is earned through commissions from a US based company. Is it best for me to set this up as it's own company with it's own ABN, ACN GST etc? I also currently have a part time job at the moment. I'm not sure the best way to structure this new company as I think it is going to be complicated when it comes to tax time. Basically is it ok to set this one up as a new company or is there a better way of doing it. Any advice would be amazing, thank you. Stephanie
Submitted: 6 months ago.
Category: Australia Law
Expert:  Leon replied 6 months ago.
Good MorningMy name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand this is not legal advise Please understand this is not legal advice but a guide to assist you.If you are setting up another company it is best that it has its own TFN and ABNWhen you say a company registered in your own name, do you mean you are a director of that company?
Customer: replied 6 months ago.
Yes I am currently director of the company already registered.If I have a few companies registered where I am director / sole shareholder / owner - would it be worth setting up a holdings company with a few companies underneath the umbrella? Or would that be something to look at in the future when they are all making more money?
Expert:  Leon replied 6 months ago.
Good AfternoonIt makes your tax arrangements more difficult if you do and you should speak to your accountant about associated costs. Unless there is alot of money involved it is not worth making it more complex As it stands now each being separate they have some protection from the other.Even under a holding company most still have their own ABN and TFN as they are separate businesses

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