Vantaggi
liability for shareholders is limited.
it's easy to transfer ownership by selling shares to another party.
shareholders (often family members) can be employed by the company.
the company can trade anywhere in Australia.
taxation rates can be more favourable.
Svantaggi
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Since they are the employees not the owners, they do have hardly any personal interest and commitment in the company. This may result in inefficiency and, in turn, losses. Corporations also have disadvantages compared to proprietorships and partnerships when it comes to taxation.