Your Company is a separate legal entity with shareholders and directors. This means you can allocate yourself 100% of the share and list yourself as the only director. Alternatively, you can sell shares to investors, you can have more than one director and you can allocate shares to a partner. The structure is completely flexible, depending on your needs. You probably won’t be liable for your company’s debt. The shareholders won’t be liable for the Company’s debt if your company ever becomes insolvent. Directors may be held accountable. However, this depends on their contract and also whether they participate in fraudulent or reckless behavior that instigated the insolvency. You qualify for many Tender, RFQ and Contract opportunities. You need to formally register a Pty; that means you’ll have the Company documentation companies often require from their applicants. You pay a flat rate of 28% Tax on your yearly profit. Depending on your yearly taxable profit, this might be more or it might be less than you would pay as a Sole Proprietor. There are some exemptions to pay a lower flat rate and you can check out both here: do you qualify as an SBC or do you qualify as a Micro Business registered for Turnover Tax. You have to do a formal Company Registration. Your business is a to be a separate legal entity to you, which is why you need to formally register as a separate legal entity. However, the registration process doesn’t need to be tedious and it can all be done online. Check out how fast Company Partner’s online and fast-tracked registration service is.