So. I am now 45. You cannot really argue that 45 is “early 40’s”. Especially as an accountant. It gets you thinking. My career is pretty much going to go in the same pathway from here on in. I am not going to make some massive change and become the CEO of Westpac or Tesla. … Continue reading A tax deductible mid-life crisis? 7 Options
So we have given everybody a raft of reasons why issuing shares to staff in your family business is a bad idea. However, the simple fact remains that many people do issue shares and it works spectacularly well. So why do people issue shares to their staff? The staff want them Quite often the great… Continue reading Why your family business should offer shares to your staff
The much maligned unit trust has a key role in families undertaking property investments. Why most accountants do not like unit trusts Traditionally a unit trust was used for two independent families to go into business together. The legal ownership and separation of the units, together with the trust deed, was seen as a way… Continue reading Unit trusts and property investors: a perfect combination for your family
Recent government tax changes have affected the negative gearing of rental properties. However the changes, while significant for many, do not impact the large benefits of negative gearing. Many families in business will continue to use the tax benefits of negative gearing on rental properties for creating a future legacy. We go through the changes… Continue reading Negatively geared rental properties under a government tax attack
It would be great if life operated in a straight line. Your business would slowly go on a nice upward trajectory year in year out. There would be no big wins and no staggering losses. You would pay tax consistently for cash-flow planning. A forecast for your business and investments would be simple. Sadly that… Continue reading Doubling your superannuation tax deductions through reserves
Every family wants to make sure that their legacy, and the family business, is preserved and continues – in a tax effective and controlled manner. However sadly some family members are more vulnerable and the family legacy might be affected when it is controlled by these people. This concept of care and protection for these… Continue reading How to protect your inheritance to vulnerable family members
Do you find the world of “accountant speak” confusing? It is no wonder. With with a world of numbers crossing into legal requirements and then back into real life – the complexity can be overwhelming. And if you then overlap the presentation of your financial statements into statutory tax obligations which can impose a mandated… Continue reading The one ratio that your family business can run on
The start of a new financial year normally brings around a sense of trepidation among many. Was our stocktake done properly? Were the employee PAYGW certificates issued? What about the travel allowances? Can my dividends be franked this year? When do I have to schedule the auditors in? Do I have to schedule auditors? What… Continue reading Your new financial year resolutions
I recently did a technical presentation in Bangkok to a group of family business people. And while the material, and discussions afterwards, were enlightening, I was eager to see some of this great city. A group of us went to the Skybar. It was incredible. The view was amazing. The people (except me of course)… Continue reading Getting rid of receipts while travelling
Sadly taxation is a major expense for most families and the businesses that they own. And a clear tax planning strategy is essential for anybody wanting to create an enduring legacy. We have gone through a few strategies that we commonly use for the families, and the businesses they own, use. Of course – there… Continue reading Family business tax planning for 2017
