Newsletter

For many small business owners, their business is their largest asset and for many, one that is expected to help fund their retirement. But what is your business really worth and what sets a high value business apart?

It’s not uncommon for business owners to pour their money into a business to get it up and running and to sustain it until it can survive on its own. A recent case highlights the dangers of taking money out of a company without carefully considering the tax implications.

There is a range of issues and rules for small business and private groups to navigate when accessing money and benefits from their private companies.

WARNING ON SMSF ASSET VALUATIONS

The Australian Taxation Office (ATO) has issued a warning to trustees of SMSFs about sloppy valuation practices.