No business structure is perfect. However, it is important that you have the correct structure in place at the correct time. There are four common types of business structures which include, Sole Trader, Partnership, Company and Trust. When considering the choice of structure, it is wise to consider commercial and risk related issues, tax related matters and succession/asset protection. As tax rules evolve over time, and as a business moves through its life cycle, the optimal choice of structure may change as well. It is therefore important that you review your structures regularly to ensure they are still fit for purpose.