Many family business owners in Perth invest in property as a wealth strategy. However, what happens when a simple investment turns into a full-fledged development project? The shift from property investor to property developer comes with significant tax implications that can impact the project’s after-tax profitability.

As a business owner, you probably did not enjoy superannuation guarantee contributions along the way as your employees did. The act of growing and creating your own business was your superannuation. The government acknowledges a range of tax-efficient ways to sell the business and either avoid or reduce the tax on the sale of the process entirely through the small business capital gains tax concessions.

When you are getting ready to sell your family business, the tax restructuring of the family business will often include multiple tax structuring options, including a scrip-for-scrip rollover. While the action is frequently talked about, many Perth tax accountants don’t correctly understand how the tax measure works, how to access it, or how a scrip-for-scrip tax rollover can help the family business.

As business families become increasingly mobile and global, it is common for a deceased estate to have interests and assets beyond Australia. They can be overseas business branches, foreign real estate holdings, offshore shares, or bank accounts. All of these assets and interests will have tax consequences on income generated within the deceased estate has tax consequences on the sale of the assets, and also tax implications on the transfer of assets to the beneficiaries.