Joint Venture Startup

• Generally, there are two or more parties involved in the venture and the sharing of knowledge, expertise, contacts, and systems.
• Intellectual property of the companies and/or individuals involved may help to increase the venture’s profitability.
• Ownership of entities who are a part of the joint venture remains separate.

A written agreement or contract is the best way to establish a joint venture. This sets out the relationship between the parties of the joint venture. This contract will also define the profit and loss sharing arrangements. A handshake is acceptable if you are looking for an informal agreement, but BBAS Accounting Services recommends a formal agreement to eliminate any misunderstandings and to ensure that all parties are aware of their obligations and are accountable.

BBAS Accounting is experienced in joint venture startup and we can advise you of the tax implementations, as they are different from that of a company or partnership. Our team of specialists know exactly how to set up a joint venture in Australia. We help clients nationwide with completing and lodging joint venture tax returns, establishing agreements, accurate record-keeping and compliance requirements associated with the joint venture agreement.

Whether you need advice relating to your current joint venture partnership, considering a joint venture startup or are seeking an experienced joint venture accountant to assist with taxation and compliance, we can help you.

Please don’t hesitate to call us on (07) 3886 1652 to discuss your requirements. Alternatively, if you complete the online form below and we will contact you.