What are the types of companies in Australia?

There are various types of companies in Australia. These are:

1. Proprietary Limited Company (Pty Ltd): This type of company is the most common and is known as a private company. It has limited liability and can have up to 50 shareholders.

2. Public Company: These companies are publicly traded and their shares are traded on the stock exchange. They have at least one shareholder and are required to share financial information with the public.

3. Sole Trader: This type of company is a business run by a single person and with sole responsibility. In such companies, the business owner alone bears all the profits and losses of the company.

4. Partnership: Partnership is a cooperation agreement established between at least two individuals or organizations. Profits and losses are shared between the partners, and each partner shares the debts of the business.

5. Trust: A trust is a structure by which one or more individuals or organizations establish an entity to manage their interests. A trust is controlled by an administrator (the trustee) who manages the assets and income and is used for a specific purpose.

6. Incorporated Association: This type of company is an association or club established for social, cultural or sporting purposes and subject to statute. These types of companies are non-profit making and are usually founded by non-profit organizations. These are just a few examples and many more types of companies can be found in Australia. When choosing the type of company, the size, ownership structure and goals of the business should be taken into account.