Succession PlanningA succession plan is a must for any business owner
A Succession Plan Should Include:
- Continuity of family ownership of assets
- Maximisation of retirement income
- Provide a retirement income or pension for retirees
- Assist beneficiaries with financing options if required
- Tax effective result on sale or transfer of assets
- Review of appropriate insurance coverage
- Provide financial security and peace of mind
- Clarify and document the desires of all associated parties who may have conflicting opinions
- Reduce conflict and contesting of wills after death
Don’t be caught short – but don’t worry it’s never too late to start planning for tomorrow. Ensure your retirement dreams become a reality by developing a succession plan to enrich the quality of your retirement.
Succession planning is a prerequisite for anyone who owns and operates a family business or has money in superannuation. The right type of planning will ensure a smooth transition when a business is sold, upon retirement or upon death.
Ideally, a succession plan would be implemented over a five year period and be designed to encompass the desires of all associated parties for a successful outcome. Of paramount consideration is any possible financial burden on the next generation.
Some Of Our Accounting Services
Business & Company Tax Returns
Self Managed Super Funds (SMSFs)
Accounting & Tax Compliance
Business Planning, Advice & Management
Strategic Planning, Cash Flow & Budgeting
Accounting & Taxation Risk Management
Asset Protection & Financial Accounting
Refinancing & Restructure
Corporate File Management
We Minimise Your Tax To Maximise Your Profit
Contact Rubiix and ask about our various business accounting services that will maximise your business profit!
Recent Blog Posts
Business Support Fund The Victorian Government announced yesterday a third round of the Business Support Fund which aims to provide businesses that have been impacted by the restrictions in Victoria with financial support. The amount of grants available range from...
When the inflation rate fell into negative territory in the June quarter, it was so unusual it begged the question of what this means for the economy.
JobKeeper Update - September 2020 Eligible employees – from 3 August 2020 A person is an eligible employee for a JobKeeper fortnight starting on or after 3 August 2020 if they are: ⦁ employed by an eligible employer (including if they were stood down or re-hired) at...