Category

Structure

Setting up an SMSF: What you need to know

By | SMSF, Structure, Superannuation, Tax Planning | No Comments

There are tempting tax incentives for Australians to save for their retirement via the superannuation system, with an array of choice between superannuation funds that can manage your savings for you, but also the do-it-yourself option of a self-managed superannuation fund (SMSF). Managing your own retirement savings however is a huge responsibility and one that should not be viewed lightly. How you live and how comfortable your life will be when you’re no longer earning an income will depend largely on your efforts of saving…

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Family Business Succession

Passing the family business to the next generation

By | Structure, Succession Planning | No Comments

While it might be a tough topic to broach, it is inevitable that someday you will leave your business. You can’t know whether you’ll sell up, retire or leave due to health reasons, so is important that you prepare yourself for any eventuality. A recent nationwide survey by the Australian Centre for Family Business at Bond University found more than 40% of family businesses are looking to transfer their wealth and operations to other people in the next five years. But the survey also found…

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Directors Responsibilities

With great power comes great responsibility – Directors Responsibilities

By | Company, Compliance, Starting a business, Structure | No Comments

There is a classic saying that goes: “With great power comes great responsibility”. When it comes to life in the corporate world, that famous old quote rings true for company directors. Generally speaking, members of a company are commonly referred to as “shareholders”, and they own the company. Directors, on the other hand, are responsible for the management of the company’s business activities. As a director, you hold a high level of power when it comes to making these big decisions on behalf of the…

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