Categories
Tax
Poorly Structured
I heard a horror story the other day about poor structuring. Let’s just call this person Wayne Structureless for simplicity. Wayne has shares in a very profitable small business in his own name.
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Christmas party fails
Christmas….that time of year when the festivities not only bring joy but excessive expenses, potential harassment claims, and other employer headaches. As Phyllis Diller once said, “What I don't like about office Christmas parties is looking for a job the next day.”
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What’s involved in selling your business?
Selling your business can be a stressful time and unless you’ve done it before, it’s hard to know what to expect or what’s required to get the right result. We’ve put together the top issues for business owners or investors to maximise their results.
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Income Protection Insurance Tax Deductions
Recently a client came in to complete their tax returns and during the process we found that the income protection insurance they wanted to claim was actually paid for by their Super Fund. This sparked an interesting discussion about how income protection deductions work and how claims would be processed.
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No tax on death: fact or fiction?
Death itself does not create a tax liability, however what happens to the assets after you die could result in a tax bill. Creating a will or becoming a beneficiary of one may appear to be more straight than you thought, but the reality is the tax man could take a large bite out of your estate or inheritance.
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The tax implications of subdividing your backyard
Subdividing your PPOR (principal place of residence) is a strategy we often get asked about. If you’re thinking about going down this path, there’s a lot to consider before making your decision.
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Growing Businesses – increase your super and save tax
Retirement and superannuation are always a topic of conversation for our small business clients. Paris Financial are pro-active in our approach with our small business owners and through discussion and planning we can advise our clients on how they can utilise the small business “retirement exemption” to make up to $500,000 in additional superannuation contributions and also save on tax.
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Asset Protection Strategy – Gift & Loan Back
Asset protection strategies for our clients are a very big issue. At Paris Financial we lead the way in structuring our clients for asset protection and tax effectiveness. Many business owners and high wealth clients benefit from the structures we put in place for them, providing protection for their assets and ensuring substantial tax savings over the long term.
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