For many family business owners the pathway to success has been a very purposefully driven process.  Key targets have been set, goals have been identified and actions have been carried out to achieve a degree of success. For many, the success of the family business has generated in wealth for the family.  However, the difference […]

We often find advisors will shine a light on mega-corporations and tell family-owned businesses that “this is what you need to do!!”. Sadly the basic concept that publicly listed companies are ‘better’ than the family governance model is simply wrong. In fact, the opposite is actually true. In 2012, researchers Nicolas Kachaner, George Stalk and […]

From July 1st, 2018 any product, such as toys, linen, cosmetics, or clothing will incur GST on the full price of the goods sold on importation into Australia. What are the GST changes for low value imported goods? So from 1 July 2018, GST applies to low-value physical goods that have been imported to Australia […]

As accountants we typically have to do numbers on the spot.  We are often visiting family businesses around Perth and regional towns and the rule of 72 is a great tool for everyday financial calculations. In short if you want to know how long something will take you to do double your money use the […]

n easy task. Land purchase documents If you have bought or sold land: and you have lost the purchase contract you can contact Landgate for details of the transaction. If the original owner of the land is deceased you can lodge an “Application by Personal Representative Form (A1)” with Landgate. Lost trust deeds The matter […]

The use of a testamentary trusts for estate planning has been common practice for many Perth business families.  The testamentary trust has fantastic taxation, asset protection and estate planning flexibility. However from 1 July 2019 the government is intending to strip down the tax benefit that people enjoy in a testamentary trust. However to understand […]