HarvestWiseRunning a small business means things can change fast — new clients, more staff, bigger projects, and shifting goals. But one thing many business owners forget is to check whether their business structure still suits where they’re at today.
At HarvestWise Accounting, we often meet business owners who started out as sole traders, partnerships, or family trusts and have since outgrown those setups. What once worked might now be costing you more in tax or leaving you exposed to unnecessary risks.
With the 2026 financial year underway, now’s the perfect time to make sure your structure is still working for you — not against you.
1. Your Business Has Grown — Has Your Structure?
Growth brings change. Hiring staff, expanding services, or taking on bigger contracts can all affect what structure makes sense.
Here’s a quick breakdown:
- Sole traders face unlimited personal liability and fewer tax options.
- Companies offer better protection and often lower tax rates.
- Family trusts provide flexibility for income distribution and smarter tax planning.
A structure review helps ensure your setup still fits your goals and keeps you compliant with ATO and ASIC requirements.
2. Save Tax and Protect What You’ve Built
The right structure can make a big difference to your bottom line. It can help you:
- Legally reduce tax through smarter planning.
- Protect your personal assets from business risks.
- Simplify compliance and cut down on admin headaches.
A quick review can uncover simple ways to improve tax efficiency and peace of mind.
3. Plan Ahead for the Future
Whether you’re looking to expand, bring in a partner, or plan for an eventual sale, your structure plays a major role in how smooth and tax-effective those changes will be.
It’s always easier (and cheaper) to get it right before those milestones happen.
4. Keep Up with ATO and ASIC Changes
Regulations evolve constantly. A structure review helps make sure your ABN, GST registration, company details, and trust deeds are up to date and compliant with current laws.
Time to Take a Fresh Look
Even if your business feels steady, reviewing your structure every few years can help you stay tax-smart, compliant, and protected.
At HarvestWise Accounting, we help small business owners get the right structure in place — so you can grow with confidence, pay less tax, and safeguard what you’ve built.
Ready to review your business structure?
Book a chat with one of our accountants today and make sure your setup is working as hard as you are.