Loan Funded Share Plans for Succession
Tax law structuring options for employee share schemes are generally not attractive to medium-sized businesses and their accounting advisers in Perth. The ATO-endorsed employee share scheme incentives are good on scale, but the tax-free discount of $30k ($1,000 for others) for start-ups is ordinarily too small compared to the accounting advice and valuations needed for […]
New! Super Tax Changes Coming 1 July
As we approach the new financial year, exciting tax changes are on the horizon, offering Australians an opportunity to optimize their superannuation funds—whether they’re SMSF managed by a Perth tax advisor or APRA funds. Effective 1 July, the enhanced concessional super contribution tax limits will potentially help people increase their retirement and reduce their overall […]
How to Use a Bucket Company to Save on Tax
Many small to medium-sized businesses across Perth have used bucket companies to save on tax with the help of their Perth tax accountant. However, the tax benefits and structuring of bucket companies require thought and planning, and they also have tax downsides that need thought and preparation. This blog will outline the tax saving strategies […]
The Tax Impact on Unfair Dismissal Claims
Sadly, almost every family business in Perth has asked their tax accountant – how is the tax treatment of my unfair dismissal payment treated? The tax treatment of legal fees paid on unfair dismissal If your family business incurs legal fees defending an unfair dismissal claim, the legal fees paid are tax deductible. The legal […]
What is the Tax Effect of a Capital-Protected Loan?
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. When Perth family businesses talk to their tax accountants about the tax benefit of […]