Small Business
Always Start With The End In Mind
If the business starts burning down, what's your escape plan?
... read more
Small Businesses Do Need Tax Guidance
We’re glad to hear the head of the ATO, Chris Jordan, has come out recently and commented on tax obligations for small business people. It’s very complex, but so important that small business people get it right.
... read more
Property Investment for Small Business Owners
In small business, a key asset protection strategy is to set up an investment trust outside of your main trading trust.
This investment trust is what buys your investment property.
You need to do this because you cannot have it in your name as the director of the company who is running the business. This is far too risky in a litigious society.
... read more
Business Intuition Is Not Bullsh!t
Our multi-millionaire clients all have five things in common. If you plan to boost your bank account to seven or eight figures, read on.
... read more
Death and Small Business CGT Concessions
They say that two things in life are inevitable – death and taxes. This doesn’t mean that the two have to happen at the same time. Generally where there is a change of ownership in small business, a CGT event is deemed to have occurred which may result in a capital loss or taxable gain. When a person dies, their assets are transferred to their legal personal representative (LPR) or are acquired by a surviving joint tenant, if one exists, and as such the Capital Gains Tax rules apply.
... read more
Death and Small Business CGT Concessions
They say that two things in life are inevitable – death and taxes. This doesn’t mean that the two have to happen at the same time. Generally where there is a change of ownership in small business, a CGT event is deemed to have occurred which may result in a capital loss or taxable gain. When a person dies, their assets are transferred to their legal personal representative (LPR) or are acquired by a surviving joint tenant, if one exists, and as such the Capital Gains Tax rules apply.
... read more
Small Businesses Can Get Into Trouble
Imagine you have put all of your life savings into buying a business. You spend years dedicating your heart and soul towards it. You listen to financial advice and take every measure to do the right things. Still your business is failing. The figures are wrong. It's heart wrenching. Our advice? Let it go. ASAP.
... read more
Two Directors is Wrong, Wrong, Wrong
I will give you a second strategy for asset protection in business. This one is really simple.
... read more