Be Informed is William Buck's regular newsletter, filled with up to date news and relevant advice for individuals and businesses.
This month we have prepared two articles that cover current issues we believe are relevant to SME advisors.
The first article considers a recent case where an asset protection strategy involving a superannuation fund and a family trust was found to be ineffective.
The second article looks at 7 common FBT issues which small-to-medium businesses face.
The expectation that assets held in a discretionary trust are out of the reach of creditors is not as bullet proof as some may believe. In a recent case, a bankruptcy trustee was able to void transactions in spite of the fact that the bankrupt may have been solvent at the time of the transactions.
The decision highlights a number of potential risks for advisors to consider when assisting clients with structuring, restructuring or developing asset protection strategies.
The end of the fringe benefits tax year is fast approaching. Do you have your head around the most common FBT issues that small-to-medium businesses face?
This article provides you with a quick guide to the common issues.