The Site Shed
The Site Shed is a tradie podcast designed to assist and educate trade based business owners around the globe with business related topics and current affairs.
The podcast is targeted to tradespeople and contractors like plumbers, builders, electricians, tilers, roofers, locksmiths, landscape gardeners & horticulturalists, printers, chefs, hairdressers, however it is a small business podcast so it also suits anyone that is in business.
Facilitated by former plumber Matt Jones, this podcast addresses topics related to the trades, such as; apprenticeships, technology, business tools, web, digital, cloud, content creation, SEO, marketing, as well as regular guest appearances from co-host specialists, successful case studies, good and bad experiences and lot's of do's and don't that have been learned through the school of hard knocks.
Matt's unique approach to communicating relevant topics is both refreshing and enjoyable. His experience as a plumber of 12 years, combined with his knowledge of the digital and business space as the owner of Tradie Web Guys, a company that helps tradespeople and contractors grow their online presence, you're sure to transform your earbuds, into a university.
The Site Shed
Is your business structured right? Sole trader vs Business vs Partnership | ft. David Rosenthal | Ep. 423
Choosing the right trade-based business structure is crucial for every Aussie trades person aiming to succeed in 2025. In this episode, we cover the ins and outs of starting as a sole trader, partnership, PTY LTD company, or trust. Learn how each structure affects taxes, liability, and the ease of expanding your business. If you're considering starting or restructuring your trade-based business, this guide will equip you with the knowledge to protect your assets and grow your venture effectively.
Watch the video version of this podcast at https://youtu.be/8CDuj469fMY
Discussion Points:
00:00 Simplify content for universal understanding and communication.
05:58 Easy entry, tax advantages, but unlimited liability.
07:05 Start with unlimited liability; consider partnership later.
12:10 Start honest talks early to avoid conflicts.
13:34 Friends in business risk ruined friendships.
18:20 Understand taxing implications of company withdrawals.
20:14 Transitioning to new ABN requires extensive administrative work.
25:42 Loss treatment differs for business structures.
28:39 Trust benefits adult beneficiaries with low taxes.
31:41 Confusing tax savings with cash savings explained.
33:53 Consider restructuring after 130,000 profit threshold.
37:07 Separate entities protect assets through strategic division.
39:22 Understand write-offs to avoid being scammed.
Resources:
- Visit Retinue’s website at www.retinue.com.com.au
- Get in touch with David at david.rosenthal@retinue.com.au
Enjoyed the podcast? Take your trade business to the next level by incorporating AI! Don’t get left behind—explore Tradie Hub at tradiehub.net. Discover game-changing AI solutions designed to boost efficiency and growth for trade businesses worldwide. Check it out today!
👀 Check This Out:
Thinking about adding AI to your trade business? Discover what’s possible with TradieHub.net
📲 Stay Connected:
- Facebook: The Site Shed
- Instagram: @thesiteshed
- LinkedIn: The Site Shed
- Website: thesiteshed.com
- Join a global community of 6000+ trade professionals https://www.facebook.com/groups/TheSiteShed
⭐ Enjoyed This Episode? Leave us a review here!
