Trusts are a flexible and tax effective structure that are ideal for building passive wealth. With close to 1,000,000 registered trusts in Australia (per the ATO data) there are several key advantages, but these need to be balanced with the cost and additional administration of operating a trust structure. Key advantages Key principal advantages of […]
Key points What are Special Disability Trusts (SDTs) and how do they work. The financial benefits of SDTs ranging from tax benefits and exemptions from asset and income tests. The need for professional support in establishing a SDT. Caring for a loved one with a severe disability is deeply personal, requiring carers and families to […]
Key points What is estate planning? The importance of having an estate plan in place If you do have plans in place, you should review their effectiveness As you create your 2025 “to do list”, be sure to include estate planning. But first, what is estate planning? Estate planning involves preparing your financial situation in […]
Todd is committed to providing personalised financial guidance to his clients. With nine years of experience in the financial planning profession, Todd brings a wealth of knowledge and expertise to help individuals and families navigate their financial journey. Todd’s approach to financial planning is rooted in empathy, understanding, and collaboration. He believes in taking the […]
In a recent decision of the AAT, ZWBX v FCT [2024] AATA 2065, a taxpayer was denied a tax offset in respect of their investment in a company that was purporting to be an Early Stage Innovation Company (“ESIC”) based upon its self-assessment under the ‘principles-based test’. The AAT’s finding was that the company did […]
The ATO has announced that assurance reviews starting from 1 July 2024 will rate entities within the investment industry on their third-party data tax control frameworks. Large super funds, managed funds and insurance companies need to have adequate policies, procedures and controls in place to meet their tax risk management obligations. Background Investment entities, including […]
It’s understandable that firms may feel tempted to take on client work that is outside their core offerings but that can be a false economy for many. Utilisation has continued to fall in the past year, even as demand has recovered, and that can be enough for firm principals to try and recover the sunk […]
As the financial year draws to a close, it is time to start thinking about whether your year-end tax planning is in order. Tax planning requires consideration of income and deductions for the year as well as whether compliance requirements have been met (e.g. appropriate elections have been made on a timely basis and other […]
Both the ATO and the Courts have confirmed that it is critically important that trustees properly consider which beneficiaries should receive distributions and how those distribution entitlements are satisfied. These developments highlight that trustees cannot be passive in their trust distribution decisions. It is therefore important that trustees take these developments into account when exercising […]
Many of us don’t like to think about ourselves or loved ones getting older and more frail and as a result we quite often don’t plan for it. What if you (or a loved one) start to quickly lose your health or mental capacity? Without a plan, you may find yourself rushing into decisions such […]
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