One tax conversation worth having

High-income earners, this is a conversation worth having with your accountant.
With tax changes coming through, now may be the right time to review your business and investment structures, especially if you currently use, or are considering, a family trust or company structure.
Companies can be appealing because they may access a 25% tax rate, while certain trust structures may face different tax treatment moving forward.
There may also be strategies where a trust acts as a shareholder of a company, allowing income and franking credits to be managed more effectively depending on your setup.
The key takeaway?
Don’t wait until the changes are already here. Speak with your accountant, review your current structure, and make sure you have the right plan in place for the years ahead.
The right structure can make a big difference.
Always seek personalised tax advice based on your situation.
General advice only.
Amy Lehmann is an Authorised Representative (No. 1292710) of Consortium Private Wealth Pty Ltd (AFS Licence 495401).