This month we look at: the ATO's 'company money' crackdown, should you be the 'bank of Mum & Dad', and do your kids really want to take over your business?
- The ATO's 'Company Money' Crackdown
The ATO is cracking down on business owners who take money or use company resources for themselves. The business is often such a part of their life that the line distinguishing ‘the business’ from their life can be blurred. Pages 1-2. Read More
- Should You Be The 'Bank Of Mum & Dad'?
The great wealth transfer from the baby boomer generation has begun and home ownership is the catalyst. If you provide a loan to your child to purchase a home, it’s essential that the terms of the loan are documented, preferably by a lawyer. Pages 3-5. Read More
- Do Your Kids Really Want to Take Over Your Business?
Generational succession - handing your business across to your kids or family - sounds simple enough but, many families end up in a dispute right at the point when the parents, business, and children are most vulnerable. Pages 5-6. Read More
Quote of the month:
“If you could kick the person in the pants responsible for most of your trouble, you wouldn't sit for a month.”
Former US President, Theodore Roosevelt
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