Succession and Estates

We've actually been 40 years since Australia got rid of our death taxes, but a lot of us think that's the end of it and unfortunately that's not the case. We still have death taxes contained within our superannuation system.

A crisis management plan is a simple concept to explain. It is a plan to guide your loved ones in the event of a crisis. So yes we are talking about your death, a tragic accident or just a gradual loss of control over your financial affairs as you get older. Effective estate planning is […]

By Westcourt Blogger.  The use of a discretionary trust (often called a “family trust”) for families in business is popular in Australia and for a good reason. Income tax!  Capital gains tax! And tax is one of the many good reasons why many of our Perth based, commercially focussed families in business use a discretionary […]

The ATO has recently provided recommendations for self-managed super funds (SMSF) trustees with related party LRBAs that are lodging before the 31 January 2017 compliance deadline. The Tax Office stated that the relevant income of an SMSF is considered NALI (non-arm’s length income), and should be reported as such in the SMSF’s 2016 annual return, […]

For most SMEs in Perth, Xero is the dominant cloud accounting package. Xero’s ease of use and functionality help Perth family business owners and their accountants gain control of their business and finances, making it a market leader. However, Xero is not everything to all business owners. As a Perth SME grows, it has more […]