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Welcome

 

Welcome all and sundry to my blog. 

This is an informal page dedicated to burgeoning tax accountants and small business operators alike. The underlying purpose of this blog is educational benefit, and like with anything - nothing on this blog should be construed as tax advice. 

I highly recommend that you consult a tax professional, and in particular the good people at Moore Australia (WA) in particular. 

As for myself personally - I have spent 13 years in public practice, working on a myriad of enterprises within the SME field, with business turnover ranging from $20 thousand to $50 million plus.

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Trust or corporate structures?

When I first started in tax, many self managed entities (SME) or Small Business Entities (SBE) operated through discretionary trust structures.  They were an attractive proposition. Discretionary trust structures offer flexibility in how income is to be taxed. Typically trusts are non income tax paying entities (there are exceptions of course) and assessable income derived by the trust can be spread around a number of eligible beneficiaries, utilizing lower marginal tax thresholds of individuals within the family group, and even parking distributions with "bucket companies" ensuring that the effective tax rate across the family group doesn't exceed the company tax rate.  Trust structures are also eligible for the general 50 % CGT concession which is an attractive proposition later down the track when it comes time to exit, and realize a capital gain on disposal of the business.  Tax is an ever changing field however, and over time corporate structures have become more pop...
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