Can I use Family Trust losses to offset Estate Income?

Clients often wish to transfer estate assets into an existing Family Trust. This is because they want to use the accumulated tax losses in the Family Trust. This is often a mistake. It triggers Division 6AA penalty tax rates and risks “trapping” losses...

How to Extract Money from Your Australian Company

Withdrawing wealth from your proprietary limited company is difficult. Australian tax law, particularly the tortious Division 7A rules, is designed to keep wealth ‘trapped’ inside the corporate structure. Your company is a separate legal person. The...