7 ways to protect and grow your wealth before the end of financial year

Current as of 29 April 2021 We have found when it comes to money, business owners face some common challenges: They are so focused on their business they forget to ‘throw money over the fence’ for their family. Whilst their business forges ahead their personal wealth gets left for dust. They are often under-insured, under-protected, under-diversified and under-invested in the … Read More

Will your Australian will work overseas?

CURRENT AS AT 9 April 2019   It is becoming more common for Australians to acquire assets overseas and for new Australians to keep assets they acquire before coming to Australia. If you have assets in Australia, then you need to have a valid Australian will to ensure those assets are left to your desired beneficiaries in accordance with your … Read More

Is your succession plan in place?

Current as of April 2018 With Australia’s ageing population and retirement funding issues, the ageing business owner also has decisions to make – when to retire and how to fund it! Australia’s economy is built on the SME market. However less than 20% of businesses have a formal succession plan in place.  A succession plan is essential for a family … Read More

Transition to Retirement Income Streams (“TRIS”) – once a TRIS always a TRIS?

Current as of March 2018   Transition to Retirement Income Streams (“TRIS”) allow individuals to access their superannuation benefits prior to retirement or without having to terminate their employment. Who is eligible for a TRIS? Provided the individual has reached their preservation age a TRIS can be commenced. Date of birth Preservation age Before 1 July 1960 55 1 July … Read More

Are you ready for the 1 July 2017 super changes?

Current as of March 2017 Part 3: Interaction of the $1.6m pension transfer cap and death benefit payments In last month’s Part 2 of the super changes newsletter, “I have more than $1.6m in pension phase so what are my options?” http://stanleywilliamson.com.au/ready-1-july-2017-super-changes-part-2-1-6m-pension-phase-options/, we discussed the $1.6m Transfer Balance Cap (“TBC”) and “Transfer Balance Account (“TBA”). Not only does this TBC affect … Read More

NSW Property Surcharge on Discretionary Trusts

Current as of December 2016   If you have a Discretionary Trust (commonly known as Family Trust) and you have residential properties located in NSW within your Trust, then we suggest that you read this article in full. The NSW Government has recently made changes to the definition of “foreign persons” for the purposes of assessing duty and land tax … Read More

Buy-Sell Agreements – What are they and what are the benefits?

Current as of October 2016   A buy-sell agreement is a legally binding document between the key persons in a business (i.e. the business partners). It acts as a succession planning tool to protect the business interest for each of the key persons in the business, and provides legal certainty for the families or estates of each of the key … Read More

2016 Federal Budget Superannuation reforms – the next steps

Current of October 2016   Last month the government had its first sitting of Parliament since the election and though they released some draft legislation for comment, we expect more changes in the forthcoming months of this superannuation reform journey. Latest proposals The annual limit of Non-Concessional Contributions (‘NCCs’) will be reduced to $100,000 from the current cap of $180,000 … Read More

Do you have an unwanted Family Trust?

Current as of September 2016   A Trust is a relationship where the Trustee holds assets on behalf of beneficiaries. Sometimes the Trustee or the beneficiaries may want this relationship to end. For example, when the assets no longer exist, when the beneficiaries are old enough to look after their own assets, due to a family dispute, ill health, or … Read More