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Ask Deborah Awyzio Your Own Question
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 am based in Melbourne Australia. I wanted to find out

Customer Question

HI I am based in Melbourne Australia. I wanted to find out what the benefits are of a for-profit versus a not-for profit structure for a business. We are looking to sublet a warehouse for co-working, co-living, co-learning for entrepreneurs, scientists, philosophers and musicians. The business will encourage collaborative innovation, conservation, positive social change and wanted to ask the best way this should be structured
Submitted: 2 years ago.
Category: Australia Law
Expert:  Leon replied 2 years ago.
Good AfternoonMy 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 advise but a guide to assist you.What do you want to do? Are you wanting to set up a charity?
Customer: replied 2 years ago.
Leon, I wanted to confirm whether the best way for us to structure the business is as a not for profit or as a for profit business model.
Customer: replied 2 years ago.
It'll be designed using a similar model to Impact hub. http://www.impacthub.net
Customer: replied 2 years ago.
However there will be one space based in Melbourne which we will be subletting out for workshop hire, space for living and working
Expert:  Leon replied 2 years ago.
Good Afternoon,You should set up a corporation to run it but you need to speak to an accountant about setting it up. Most non profit organisations that collect money are charities. I cannot see you being a charity as I do not understand what you are tying to do.