Accountant Allied Health Annuity Apps Asic Asset Finance Asset Planning Asset Protection Asset Protection Strategies Assets and Risks Ato Auction Audit Insurance Australian House Market Report Baby Bonus Binding Death Benefit Nominations Binding Financial Agreement Binding Financial Agreements Body Corporate Bonds Borrowing Brexit Budget Budgeting Business Business Tax Deduction Capital Gains Tax Capital Gains Tax: Will Capital Protection Cgt Checklists Commercial Loans Commercial Property Concessional Superannuation Contribution Corporate Trustee Darren Foster Debt Debtors Deceased Estate Depreciation Economic Update Economy Estate Planning Executor Fbt Federal Budget Federal Election Finance Finances Financial Plan Franking Credits Gst Holiday House Hybrid Unit Trust Individual Ownership Insurance Insurance In Super Interest Rates Investment Investment Loan Investment Loans Investment Property Investments Joint Ownership Ken Burk Land Tax Lending Life Insurance Linda Hamilton Loan Repayments Loans Lvr Margin Loans Margin Scheme Market Update Medical Expenses Mortgage Mortgage Broker Mortgage Broking Mygov Negative Gearing Offset Account Paris Financial Pat Mannix Payg Variation Pension Practice Valuations Private Wealth Property Property Development Rebecca Mackie Redraw Facility Refinance Renovating Research & Development Retirement Retirement Planning Retirement Savings Salary Sacrifice Scams Self Managed Superannuation Self Managed Superannuation Fund Seminar Shares Small Business Smsf Smsf Borrowing Smsf Property Smsf Self Managed Superannuation Fund Steve Golding Steve Wildes Strategic Business Structuring Structures Subdividing Property Succession Plan Superannuation Superannuation Fund Tanya Hofbauer Tax Tax Benefits for Super Tax Concession Tax Deduction Tax Investment Property Tax Offset Tax Planning Tax Savings Tax-Free Tenants in Common Tessa Testamentary Trusts Transition to Retirement Trust Trusts Ttr Will

Our Pre-Election Tips & Advice

Our Pre-Election Tips & Advice

We’re two weeks out from the federal election, and it’s time to freeze.

Don’t do anything, small business people.

I’m telling you, this is a tax election, the first one since about 1999. It’s all about tax!

But, don’t do anything drastic, because there’s loads of things that can change post-election, whoever gets in.

Billy Shorten, if he gets in, is going to shake it up like John Howard did back in 1999 of the year 2000.

Why do nothing?

Why freeze and do nothing?

The reason is because things change once the parliament comes back together.

A great example is from ten years ago when trusts needed to change and the federal government said they were going to change the laws on how we distribute money. Lawyers went out and did seminars all over the country, hitting up accountants to change trust eds for all their clients.

Right at the end, the law came out completely different to what they’d proposed because of the machinations of the senate. So all the fuss was over nothing.

Right at the moment, two weeks out from the election, all sorts of people are saying the law’s going to change because Billy is gonna get in.

Don’t listen. Don’t do a thing.

Post-election, we’ll really know what’s going to happen.

So tune into the Tax Champion on YouTube and get on all of our social channels, because once the laws do change and we’ve got black and white rules for tax law, we will give you everything you need for small business.

But for now… wait, wait, wait. Do nothing folks. And we’ll see you in a few weeks’ time.

 

Pat Mannix, Partner, Paris Financial