Basics of Personal Services Income (PSI)
How do the Personal Services Income Rules work? If 80% or more of the PSI comes from one source, the results test must be passed. Otherwise, the business is not a PSB and the PSI rules will apply. If less than 80% of the PSI comes from one source, the business will be a PSB […]
Family succession planning for business owners
For many business owners, the objective is to pass a profitable and successful business through to the next generation, but this is not something that simply happens and the planning you undertake for a business sale should be similar to transferring a business within the family group. If you are a business owner, you may […]
Conversations about estate planning
The role of a practitioner is to identify and address issues in the affairs of a client, but the conversation about estate planning is one that many put off until too late. How does the conversation start? Understanding your client and how they are operating is a key starting point. In looking at their business […]
C&D Pub Consulting
Are you a hotel operator looking for a different view of what your options are and how you can improve your business. Our team has run over 90 licensed venues over their career focusing on high level turnaround and either packaging for sale or bringing in long term management. Where you partner with us our […]
The unrealistic landlord
The landlord, for most businesses, is the last to know but generally holds all the cards. Dealing with a landlord who is unrealistic however can make your business less likely to be able to survive a restructure or change in your business. If the landlord is unwilling to negotiate on rent arrears or a rent […]
Business succession planning
You’ve run your own business successfully and now it’s time for you to leave. What now? According to Forbes, succession planning has been defined as the number one responsibility of board members, however only 14% of directors had a detailed succession plan in place. A succession plan outlines who will take over your business when […]
Can I repair my credit?
There are a number of business offering credit repair services some appear to be functional, but others don’t necessary cut the mustard. The service that they offer is generally to dispute a listing on the grounds of breach of reporting rules, invalidity of debt or any other grounds they can find. Can you do it […]
What is an appointor?
An Appointor has one key job, which is to appoint and remove Trustees of a trust. The Appointor will also usually have other powers such as the ability to refuse certain actions by the Trustee with issues like amending the trust deed, changing the vesting date of the trust and changing beneficiaries of the trust. […]
Basics of a power of attorney
What is a power of attorney? A power of attorney is a legal document that nominates and gives authority to another person to make personal/financial decisions on your behalf. Personal decisions such as your health care and welfare can be made by your Power of Attorney, as well as financial decisions such as the paying […]
Dying without a will (Victoria)
What happens if I die without a will in Victoria? If a person dies in Victoria without a valid will, they are said to have died intestate. This can cause a range of issues as you have no control over who benefits from your estate, no control over who administers your estate and disputes can […]
