We have seen numerous examples of governments attacking the tax benefits of negative gearing.  However,the most significant tax attack is proposed by Labour with the position of scrapping negative gearing altogether. A family business, especially from Perth, almost always has property as a significant asset and factor in the succession planning of the family business.  […]

A lot of business owners and families in business in Perth actively look at debt recycling.   And at its essence, the concept is a tax strategy used by families with private debt to help them pay it off more quickly. So the percentage of your total debt transfers from mainly personal to mainly tax […]

The current labour government proposal to remove the refund of franking credits for SMSF’s and other taxpayers is a significant one. Many Perth based families in business have structured their succession plan taking into account the generous taxation treatment of superannuation and SMSF’s using the way imputation credits are treated.  The proposed removal of the […]

A lot of family businesses think that fringe benefits tax (FBT) is simply another regulatory headache.  With the presence of reportable fringe benefits, FBT accounting, registering for FBT and the impact of FBT employee contributions you could be excused for trying to avoid another connected with fringe benefits tax in any way. However, this does […]

Have I effectively tax structured my life insurance and income protection insurance policies? Life insurance and income protection insurance is a significant component of the succession plan for many family businesses around Perth. And the tax structuring of life, trauma and income protection is a key impact when trying to determine the after-tax cost. Sadly, […]

It is a sad fact that doing the accounting taxation, and financial management for a family business in Perth involves a lot of paperwork.  There is a lot of retyping data and filing documents endlessly. Thankfully, and after an incredibly long time, technology is automating the mindless paper chase. And incredibly it is now working. […]