Most families in business around Perth are aware of the tax benefits of negative gearing in real estate. The tax law surrounding negatively geared share investments is almost the same and differs when looking at the tax effect of capital-protected loans.

Small, medium, and large businesses and accountants around Perth often use the humble tax partnership. However, the taxation of partnerships is rarely discussed or explained in detail, even though they are so prevalent. In this blog, we will explain what a partnership is, how it operates, and how it is taxed.

Every successful family business has an exit point planned well in advance – either selling to an outsider or the next generation. However, getting a successful sales outcome is difficult and takes significant planning. In this blog we focus on 13 key points that family business owners in Perth should consider when they considering Perth business exit strategies.

When considering the purchase of commercial real estate via your Self-Managed Super Fund (SMSF), and potentially leasing it back to your own business, it’s essential to be aware that this process resembles a standard real estate acquisition. However, specific steps with the help and support of your Perth SMSF tax accountant must be adhered to comply with superannuation and tax regulations:

Franking credits are essentially refunds given to shareholders of Australian companies. Since these companies have already paid taxes on their earnings, the concept is to prevent double taxation of the same profits for the shareholders. Hence, investors receive a tax credit for these dividends at tax time.

With Christmas just around the corner, many families in business are talking to their Perth tax accountants about how to give money to their children tax effectively.

Many Small and Medium Sized Businesses are being requested to report on their Carbon Accounting Emissions for their group of companies.

The tax impact of a business sale, merger or acquisition takes on many forms. The capital gains tax exemption offered by a scrip for scrip rollover is a key mechanism discussed by savvy Perth tax accountants among their clients. A “scrip for scrip rollover” is common when another company acquires a business during a merger and acquisition process. Instead of getting cash for the sale of your business, you receive shares in the acquiring company. These shares effectively replace the money you would have otherwise earned from the sale. This process is essentially a direct exchange of shares for cash between two companies. Moreover, the scrip for scrip rollover is a strategy to provide relief from Capital Gains Tax (CGT). You or your Self-Managed Super Fund (SMSF) can avoid the capital gains typically associated with selling your business by receiving shares instead of cash.

Rentvesting is a tax strategy many Perth tax accountants use to eliminate private debt on the family home while maintaining the main residence exemption for capital gains tax. While the tax advice on the strategy is complex, it is worthwhile to understand the full range of tax implications and financial implications many Perth tax accountants will raise when talking about reinvesting.

The government’s proposal to tax SMSF’s and super fund trustees with a new 30% tax has a range of confusion and angst by many Perth tax accountants and their clients. Here are 10 tax tips about the new 30% SMSF tax that families in business should consider.

It is common for small and medium-sized businesses in Perth to incur tax penalties and interest from the Australian Tax Office. The ATO will often waive or reduce tax penalties and interest charges when the right circumstances are put before the ATO in the correct way.

Most directors of small and medium-sized companies across Perth know about asset protection from a company. Operating a business through a company for its asset protection advantages is one of the main reasons that business accountants across Perth recommend companies.