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.
the company can be expensive to establish, maintain and wind up. the reporting requirements can be complex. your financial affairs are public. if directors fail to meet their legal obligations, they... may be held personally liable for the company's debts.