Taxation Planning – Diverting Income

Taxation Planning – Diverting Income

Liam McNamara CA CTA Liam McNamara CA CTA

Liam McNamara CA CTA

Grow with the Value in Mind - Accountant for Businesses and Investors

发布日期: 2021年1月2日
+ 关注

Diverting income is another widely used and effective means of minimising your taxation liability.


Using a Discretionary (Family) Trust can prove to be very effective business / investment structure, for diverting taxable income to beneficiaries that are in a low or lower tax environment. 


A discretionary trust means that the beneficiaries are discretionary. Therefore the trustee has flexibility when it comes to making the distributions as the distributions are not fixed.

https://www.mcnamaraandcompany.com.au/blog/what-are-the-advantages-and-disadvantages-of-operating-a-business-investment-using-a-discretionary-trust

 


Note that it is important that the trustee of the trust make the beneficiaries entitled to the trust’s income by way of a resolution by the end of the financial year.

https://www.ato.gov.au/General/Trusts/In-detail/Trust-tax-time-toolkit/Resolutions-checklist/?page=2#Before_30_June


 If you would like to discuss further please contact us:

McNamara & Company - Chartered Accountants, located minutes from the Melbourne CBD

www.mcnamaraandcompany.com.au/contact-us

Phone +61 3 9428 1062

Email [email protected]

Please refer to disclaimer at the bottom of the page.

要查看或添加评论，请登录

Liam McNamara CA CTA的更多文章

  • Tax Planning v Value Planning
    2023年3月19日

    Tax Planning v Value Planning

    As an accountant working with small businesses, we are often asked by clients the best way to reduce their tax…

    1 条评论
  • Thinking of selling your Business?
    2022年6月2日

    Thinking of selling your Business?

    The last few years have shown us all that we’re not as in control as we thought we were. We’ve had a Global Pandemic…

  • Taxation Planning – 6 ways of increasing your business deductions.
    2021年1月4日

    Taxation Planning – 6 ways of increasing your business deductions.

    Increasing your business deductions is another widely used and effective means of minimising your taxation liability…

  • Taxation Planning - Deferring capital gains events.
    2021年1月3日

    Taxation Planning - Deferring capital gains events.

    Managing the timing of a capital gain event can defer the tax payable on the event for a substantial period of time. It…

  • Taxation Planning – 8 ways to reduce your assessable income.
    2021年1月1日

    Taxation Planning – 8 ways to reduce your assessable income.

    Reducing / deferring your assessable income is a widely used and effective means of minimising your taxation liability.…

  • Keep It Simple Stupid (KISS)
    2020年12月31日

    Keep It Simple Stupid (KISS)

    For a business to improve and grow it must have access to simple, concise and accurate records. From these records Key…

  • Indicators to monitor when business is bad
    2020年12月30日

    Indicators to monitor when business is bad

    When business is bad or when tough times are ahead it is important to have a good understanding your business position.…

  • The margin of safety for your business.
    2020年12月29日

    The margin of safety for your business.

    The Margin of Safety is a measure or Key Performance Indicator (KPI) of how far your sales can fall before reaching…

  • Napoleon Bonaparte and your business.
    2020年3月22日

    Napoleon Bonaparte and your business.

    Napoleon Bonaparte and your business. Napoleon Bonaparte once famously said ‘An army marches on its stomach’.

  • 3 Critical Areas Your Business Should Focus On.
    2020年3月22日

    3 Critical Areas Your Business Should Focus On.

    If you told me you wanted to run a marathon and were going to prepare for the big event by going for a slow jog once a…

社区洞察

其他会员也浏览了