The tax effect on liquidating a company was probably not what Geoffrey Chaucer was contemplating when he created his famous quote.   However the closure of a company has significant tax implications for many family owned businesses and many families in business. This is especially so in the Perth business environment right now.  Many good families […]

So we have given everybody a raft of reasons why issuing shares to staff in your family business is a bad idea.  However, the simple fact remains that many people do issue shares and it works spectacularly well. So why do people issue shares to their staff? The staff want them Quite often the great […]

So.  I am now 45.  You cannot really argue that 45 is “early 40’s”.  Especially as an accountant.  It gets you thinking.  My career is pretty much going to go in the same pathway from here on in.  I am not going to make some massive change and become the CEO of Westpac or Tesla.  […]

At some stage in a family business the question will come about: should I give my staff equity? Almost universally the answer should be no.  This will come as a surprise to many but we will give our thoughts below Costly to set up If you give staff shares in the business you will put […]

Sadly death comes to everybody.  It is a natural part of life. When a loved one dies it is a time of reflection, mourning and grief.  A time for sometimes being alone and for sometimes being with family. It is not a time to drive into Perth and see your lovely tax accountant.  However for […]

The benefits of an independent board of directors are numerous. You enjoy discipline, outside thinking and you enjoy a level professionalism and accountability to the family business. This is near impossible to do if your advisory board, at either a family level or a family business level only consists of family and and operational staff. […]