Public Company Limited by Shares
Unlike private companies, under the Corporations Act public companies can raise capital from the public, and have unlimited shareholders. These two attributes make public companies an attractive structure when businesses need to raise large amounts of funds.
Compared to private companies, public companies are subject to additional administration and regulatory costs (i.e. half-yearly financial statement preparation, half-yearly audit, minimum number of directors, etc).
Implementation process:
- Incorporate the company with ASIC.
- Apply for ABN, TFN, and business name registration for the company.
- Raise capital from the public (subject to complying with the fundraising conditions in the Corporations Act).
Similar posts you may like
- Australia’s First Direct Taxes (1851)
The first direct taxes took the form of taxing the estates of deceased persons which at the outset applied only to personal estates and Read more
- The shadow tax of Conegliano
In 2015, Conegliano, an Italian town in Veneto, introduced a tax on shadows. Business owners whose signs create a shadow on public property or Read more
- Introduction To The Modern Income Tax | 1799
Income tax was first implemented in Great Britain by William Pitt the Younger in his budget of December 1798 to pay for weapons and Read more
- The Liechtenstein Foundation of 1926
There is no universal or legal definition of foundation. A foundation can be a trust, company, or other entity; and be either not for Read more
"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2