tax changes
Business Purchase Tax Checklist
October 2011In the process of buying a business, the purchaser should conduct a due diligence review to establish that they are buying what they believe they are buying. The review identifies areas of risk and contingent liabilities that the business may have and to factor these risks in the purchase price.When...
Issues with Family Trusts
October 2011Family trusts can be a very tax effective way of managing wealth, and a useful part of an overall strategy for wealth accumulation and asset protection. What is a family trust? The term family trust refers to a discretionary trust set up to hold a family's assets or to conduct a family business. Generally,...
Budget 2011 – Small Business Tax Changes
May 2011This article contains a summary of the key tax changes in the 2011 budget that impact on small businesses. As always, there are winners and losers. A small business for tax purposes is defined to have a turnover of less than $2 million GST exclusive. Immediate deduction for asset purchases Small business...
