
What is a partnership
A partnership is a formal arrangement by two or more parties to manage and operate a business and share its profits.
There are several types of partnership arrangements. In common partnerships, all partners share liabilities and profits equally. In limited partnerships, partners may have limited liability. There also is arrangement that involves “silent partner,” in which one party is not involved in the day-to-day operations of the business.
Advantages and disadvantages of a partnership
The advantages of a partnership include:
- Easy to establish
- Low start-up costs
- Greater borrowing capacity
- Limited external regulation
The disadvantages of a partnership include:
- Unlimited liability
- High chances of complications between partners.
- Each partner is personally liable for company’s obligation
How we can help
We can help
- Register partnership name
- Register ABN, TFN, GST, PAYG and relevant taxes
- Create partnership books of accounts
- Manage ongoing tax, GST, PAYG and other compliance
- Optimise tax for the partnership and partners

What we are about
We are a leading chartered accounting firm providing Tax and External CFO services.
We provide financial clarity and structure, illuminate roadmap to vision, translate strategies to actionable plans, help build agility and resilience to thrive under all conditions.
We bring 25 years of experience solving complex problems at large corporates to servicing clients without the big costs.
Our mission is to help clients create the financial future they want. Our business is to help save tax, build wealth, and grow amazing business. Our brand is built on trust. Our reputation is built on mastery and integrity. Our success is measured by the values we create for clients.
