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Multiple Company Names

Discussion in 'Accounting, Tax & Legal' started by harmony, 4th Aug, 2011.

  1. harmony

    harmony New Member

    Joined:
    4th Aug, 2011
    Posts:
    1
    Location:
    Sydney
    We currently have one Company (manufacturing) and pay wages to ourselves. We were wondering what the tax benefits are of having multiple company names?
     
  2. Meggsy

    Meggsy Well-Known Member

    Joined:
    15th Feb, 2007
    Posts:
    61
    Location:
    Brisbane, QLD
    None that I can think of? What advantages did you think you might get? You will have an additional expense (deduction) of about $218 in ASIC fees to keep another company registered. However, I would never suggest to anyone that they would enter into a transaction purely for tax purposes.
     
  3. Terryw

    Terryw Well-Known Member

    Joined:
    9th Jun, 2006
    Posts:
    653
    Location:
    Sydney
    Having multiple names or multiple companies? A company can only trade under its own name, or register a trading name and then trade under that. But it would still be the same legal entitty.

    Splitting the business up into several companies can result in greater asset protection. If one folds you don't lose the whole business.

    (But if you personally own the shares and you go down then it would be the same.)

    Having multiple companies can also help you reach a wider market, help with advertising, help with moving money around etc