Taxation Planning – 6 ways of increasing your business deductions.                      

Warning - What can tax planning do to the value of your business - https://mcnamaraandco.au/blog/tax-planning-v-value-planning

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.

http://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.mcnamaraandco.au/contact-us
Phone +61 3 9428 1062
Email admin@mcnamaraandco.au

Please refer to disclaimer at the bottom of the page.