Business Structures and Planning
You already know my position on the over-use of “disruption” in the business world. Now I am adding robo-advice to my list of catchphrases to question.
Intellectual property may not be as tangible as plant, property and equipment, but for many businesses its value exceeds the dollars on a balance sheet. When it comes to selling a business, IP can have a critical impact on the success of the deal for your clients.
When the economy is perceived as unstable, business confidence falters. With an increase in bankruptcy cases also fuelling concern, personal wealth protection has become a top priority for many clients.
We often see businesses operating under structures where their valuable assets sit within one entity. Not only does this expose them to significant risk, but they are often paying more tax than necessary and, in turn, reducing their working capital.
When completing your Estate Plan and choosing the Executor/s of your Will, it is natural to select from those closest to you, whom you trust. The chance that your Executor will double as a beneficiary of your Estate, or beneficiary of your non Estate assets such as superannuation, is therefore highly possible. But what happens when the personal interests of a beneficiary conflict with their duties as Executor, which are to act in the best interest of the Estate?
On Thursday, 4th February 2015, the Government introduced the Small Business Restructure Rollover Bill, providing capital gains tax (CGT) rollover relief. With such a major development in tax law, there are already questions popping up about the rollover and how it may be used to benefit your clients’ businesses. We have broken down some of the areas that we think are most relevant and interesting.
If you believe a certain family member or loved one deserves to receive the benefits from your Estate when you have passed away, there is only one way to ensure your wishes are followed.
A recent decision of the Supreme Court of McIntosh v McIntosh  QSC 99 shows how important it is that you have an Estate Plan in place. This does not only mean having a valid Will, but also ensuring that assets which do not form part of your Estate, for example your Superannuation, are provided for
Recent amendments to the Duties Act 2001 (Qld) have seen the introduction of new transfer duty exemptions in Queensland. Trustees of self-managed superannuation funds (SMSFs) should be aware that a specific transfer duty exemption will be available retrospectively from 26 October 2011 for the transfer of property between the trustee of the bare trust (Custodian Trustee) and the SMSF trustee, as part of a Limited Recourse Borrowing Arrangement (LRBA).
The superannuation sector has become a hot topic of discussion recently, particularly in relation to Self-Managed Superannuation Fund (SMSF) direct property investment. The Federal Government recently ended speculation about updates to Australia’s superannuation system by announcing their proposed changes along with the Federal Budget last month.
Consider your deed The Bamford decision has reinforced the fundamental importance of the trust deed. In simple terms, if the power exists in the trust deed you can do it – if it doesn’t, you can’t. So 2 things are critical: Read the trust deed – the trust deed must contain a power or discretion […]