Forecasting & Planning

The Australian Tax Office (ATO) have recently revised their approach for the taxation of Personal Services Income.  And the change to the rules will affect the ways that Perth tax accountants interact and advise on how contractors in Perth and the rest of Western Australia approach and document their tax affairs.   What is Personal Services […]

Introduction  Succession planning is a critical aspect of any family business, especially in Perth and Australia, where family-owned enterprises represent a significant portion of the economy. Unfortunately, many family businesses overlook the importance of this process, leading to conflict, legal and tax complication issues when it comes time for a change in leadership. In this […]

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 […]

When you sit down with your accountant to strategically review your business plan: everybody needs to call the elephant in the room – blind spots. The process of business planning, monitoring and updating strategy can potentially become a group love-fest unless you have some critical high level thinking that is attempting to stretch the boundaries. […]

By Westcourt Blogger The ATO is currently targeting contrived trust arrangements that minimise tax by creating artificial differences between the taxable net income and distributable income of closely held trusts. Arrangements where trustees are engineering a reduction in trust income to improperly gain favourable tax breaks or pay no tax at all are being targeted […]