Business

Tom and Lorraine have a plumbing business and have been in partnership 40 years they are ready to retire. They would like to transfer across their business to their son who is working with them. They need to transfer the business into a company structure where they can work together through the transition and the parents are of age to receive the pension, his parents can continue working part-time.

Nancy and Colin have a successful cleaning business and are looking to sell, they need assistance with due diligence and the going concern concept on sale of a business and this needs to be completed as soon as possible. We can assist them with tax planning after the event to minimize taxation.

Property

Amanda and Adam have 2 investment properties and are buying a third they want to know what % they should own. As Amanda earns $50,000 and Adam $150,000 it is best if Adam owns it 99% as he has a tax rate of 39.5c in the dollar whilst Amanda is only paying 15%. This will give the great tax refund to them.

Wealth Creation

Barbara and Kevin have a large share portfolio and this means they have incomes in excess $80,000 per year. They are 58 and 60 years old. They need to set up there superannuation and therefore they should sell their shares across to their super funds in the recession at $150,000 per year as a non-concessional contribution.