Pay yourself properly
Salary, dividends or trust distributions each have tax and super consequences. Paying yourself super, even when the business is busy, builds an asset outside the business.
Protect it
Key person and buy-sell insurance, plus wills and powers of attorney that deal with company shares and trusts.
Plan the exit years early
The small business CGT concessions have tests that are easier to meet with planning. Holding premises in an SMSF is another option to consider.
We are in the Brisbane CBD, and we work alongside your accountant. See business owners and the super checklist.
Sources
General advice warning. This article is general information only and does not take into account your objectives, financial situation or needs. Rules and thresholds change; check the sources above. Consider the relevant PDS and our Financial Services Guide and seek personal advice before acting. FinForce is authorised under Financial Force Pty Ltd AFSL 238337. Shay has been authorised since 18 October 2011.