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Asset Protection

Great news for everyone running a small business!

The Small Business Entity threshold has increased to $10 million from 1 July 2016 onwards (became law on 19th May 2017). Previously the Small Business Entity threshold was $2 million. Basically, you are a Small Business Entity if you carry on a business and have an aggregated turnover of less than $10 million.

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Great news for everyone running a small business!
( Posted in: Tax )

Wage increases less than 2 months away – don’t be caught out and always protect your Capital!

Accountant found to be an accessory for “wilful blindness” towards underpaid employees. In a precedent-setting decision by the Federal Circuit Court, an accountancy firm has been found accessorily liable for the underpayments of the employees of one of its clients.

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Wage increases less than 2 months away – don’t be caught out and always protect your Capital!
( Posted in: Tax )

Directors found personally liable

Fair Work Ombudsman v Step Ahead Security Services Pty Ltd & Anor [2016] FCCA 1482, (“the Company”) found the director Mr Jennings, personally liable for the Company’s failure to pay their employees in accordance with the relevant modern award.

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Directors found personally liable
( Posted in: Tax )

Triple Tragedy – Capital Protection

This example is relevant to the importance of Wills as well as asset protection during your life.

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Triple Tragedy – Capital Protection
( Posted in: Tax )

Structuring for Partners with Disproportionate Ownership

Disproportionate ownership of business’s is not uncommon, and the correct structuring for your business is critical in ensuring maximum tax benefits, flexibility for distributions, income tax and capital gains, not to mention long term asset protection for all the Partners involved.

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Structuring for Partners with Disproportionate Ownership
( Posted in: Allied Health )

Asset Protection Strategy – Gift & Loan Back

Asset protection strategies for our clients are a very big issue. At Paris Financial we lead the way in structuring our clients for asset protection and tax effectiveness. Many business owners and high wealth clients benefit from the structures we put in place for them, providing protection for their assets and ensuring substantial tax savings over the long term.

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Asset Protection Strategy – Gift & Loan Back
( Posted in: Tax )

Trusting Tax - API Article

Trusts have been around for centuries, since the days of knights and round tables and have played many different roles over the years. They can prove an integral tool in your investment and business journey, if used correctly.

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Trusting Tax - API Article
( Posted in: Investment Property )