Q&A

Question: Is it possible to change business structures?

Yes it is. It is standard to change business structures from sole trader to company, or, going into business with other people, forming a partnership. It is not possible however to change a company structure back to a partnership or sole trader. 

To change structures, besides the relevant legal documents, you’ll need apply for a new ABN and will need to register your new business details with the Australian Business Register.