Westcourt

Getting ready to transition your family business

The act of moving the family business from one generation to the next is a life long journey.  It is affected by the location of the heirs (Perth or international), the capacity of heirs and their relationships within the family.  Understanding, educating and helping the next generation to prepare to control the family wealth and… Continue reading Getting ready to transition your family business

Heading internationally? Here are some tax tips for your family business

At some stage every family business will contemplate branching overseas – either online, export or inbound services. And at that point that family business will have to think about tax. And we are not talking about Australian tax that we all (supposedly) understand and we have a basic gut feeling about how it should work.… Continue reading Heading internationally? Here are some tax tips for your family business

Short-term vs long-term financing

An accountant for a family business is constantly looking at forward cash flows. Be it upcoming tax liabilities, loan repayments or lease obligations. The management of forward cashflow makes the interplay between short-term v long-term lending critical. And the management of these amounts can be critical for the ongoing success of family-owned businesses (especially start-ups).… Continue reading Short-term vs long-term financing

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