Register Partnership

partnership

Number of Business Owners: 2+

Advantages:

  • Relatively simple business structure
  • Relatively inexpensive & easy to set up
  • You can share finances & resources with your partners
  • You can share responsibility for the business with your partners

Disadvantages:

  • No personal asset protection
  • Each partner is liable for the partnership’s losses / debts even if that partner didn’t incur them
  • If your partner dies or wants out, you need to be in a position to buy them out

Quick tip! The information on this page isn’t exhaustive and we can’t advise you about the best business structure for your needs. Best chat to your business adviser, lawyer or accountant. If you need a recommendation, we can give you one.

Starting a business with 1 or more partners? A business partnership is where 2 or more people run a business together and share in its benefits and risks. A partnership is not a separate legal entity like a company, it’s a business relationship, so it’s important to be clear about how decisions are made and what partners can and can’t do.

Startup World can supply the partnership agreement and manage all of the other paperwork & registrations needed to get your partnership up and running fast.

For more information, click on the links below:

Partnership Agreement – Startup World’s partnership agreement covers off key issues like decision making, keeping accounts, resolving disputes & dealing with a partner’s retirement or death

$385 (incl GST) - Standard package (Delivered electronically)

$451 (incl GST) - Standard package + 2 printed, bound and delivered copies

It takes about 10 minutes to submit the necessary information to kick-start your applications. What are you waiting for?

Start Now

Don't forget, we can get all of your other business registrations sorted at the same time:

Australian Business Number (ABN) for the partnership

GST Registration – if the expected annual turnover of the business is $75,000 or more

PAYG Withholding – if the partnership will be employing people to work in the business

Tax File Number (TFN) for the partnership -separate from each partner’s personal TFN

Business Name Registration – if the partnership will trade under anything other than the partners’ personal names

 

 

Registered ASIC Agent No. 34174

Registered ASIC Agent State Revenue Office Victoria

Registered Agent SRO Victoria

NSW OSR logo 202

Registered Agent OSR NSW

footer-logo

iphone-icon-footer (02) 9904 1114
email-icon-footer Email