Family Trust Elections and Family Trust Distribution Tax: What You Need to Know
Family Trust Elections (FTEs) and Family Trust Distribution Tax (FTDT) have been integral components of Australia’s income tax framework since 1998. While tax professionals across Perth, such as lawyers and accountants, should be well-versed in these concepts, it’s essential not to let familiarity lead to complacency. As families evolve and children grow, establishing new tax, […]
6 Options to Close an Australian Company
Closing a company in Australia is a decision that requires thorough planning and strict compliance with legal requirements. Whether driven by part of a succession of the family business, financial difficulties, taxation, strategic realignments, or other factors, understanding the available options that a Perth business accountant can employ will make a more streamlined process for […]
Managing Australian Death Taxes: Essential Insights for Estate Planning
A common misconception is that Australia has no inheritance tax. While that is technically true, it is not the case in practice. The death of a loved one almost always raises a raft of tax issues and triggers events that have a tax implication or trigger a tax event. As Perth tax accountants, tax planning […]