The right business structure is the foundation on which you build your success. It should protect your assets, maximise your returns and minimmise your tax liabilities. It's a good idea to have it in place before you start looking for opportunities to purchase rights, so you can consider your options withour any time pressure.
Your Management Rights Business Structure
Your management rights business structure is very important. Talk through the options with your lawyer and accountant. The structure of the business entity or entities that you use to purchase management rights will depend on your circumstances (single, couple, family, business partnership, etc).
Your structure might include a company, discretionary trust or unit trust. The right business structure should protect your assets, maximise your returns and minimise your tax liabilities.
It’s a good idea to decide on your business structure and have it in place, before you start looking for opportunities to purchase rights. That way, you can consider a range of options without the time pressures that arise, once the purchase process starts. And if you decide later not to purchase management rights, you can probably use your new business entities to buy or set up a business in another sector.