Focus on family trust elections
If your business and investments are tied up in a trust, there’s no time like the start of a new financial year to consider the importance of family trust elections.
Why so? Because there are consequences and benefits and it’s important to understand the impact of family trust elections on succession planning. But it’s complex. Michael Jones highlights the key considerations with the suggestion that you also seek a good conversation with your accountant if this is an area of tax law affecting you.
Audio by Business Essentials. For more business interviews please visit: https://www.businessessentials.com.au/