From 1 July 2017 employees will be able to claim superannuation deductions for contributions made to a superannuation fund.  Currently the only contributions that could be claimed would be ones that were made by an employer or if the employee’s salary is a minor part of their overall income. For families who own businesses these […]

Careful long term planning of your property portfolio can make a big difference. Stamp duty planning Stamp duty planning is an often overlooked part of a strategy for families.  Typically a family will develop and build a property portfolio and the cost of stamp duty is considered an unavoidable by-product of buying portfolio. This is […]

By Westcourt Blogger. To understand franking credits we need to take a step back. Australian tax law has an underlying principal.  Regardless of how you take cash from a company: the ultimate tax payable by you is the same. So a company can pay you rent on a factory you own.  Or it could pay […]

By Westcourt Blogger.  The use of a discretionary trust (often called a “family trust”) for families in business is popular in Australia and for a good reason. Income tax!  Capital gains tax! And tax is one of the many good reasons why many of our Perth based, commercially focussed families in business use a discretionary […]

By Westcourt Blogger.  For a long time families in business have used the Tax Office as a second bank when a cash flow crisis hits. And why wouldn’t you – no setup fees, no application process and no real implications for not paying on time. You just incur a higher than normal, tax deductible, interest […]

By Westcourt Blogger Families in business will often buy property across generations or between siblings.  It might be an acquisition of a new farm or just a way to give the next generation a hand up into the property market. These are the top 11 things to think about before you do it. Buy it […]