The Holistic Accountant
A holistic accountant goes beyond tax returns, aiming to offer proactive advice to maximise clients' wealth after all taxes. Stuart Wemyss and Mena Abraham explore multifaceted considerations weekly, highlighting the need for a holistic approach. Each episode is succinct and to the point with no fluff or sales pitches. For further details, check out www.prosolution.com.au.
The Holistic Accountant
What to consider when establishing a corporate beneficiary?
Using a corporate beneficiary, commonly called a bucket company, is a smart move for many trust structures, particularly when tax efficiency and asset protection are key goals. But as Stuart and Mena explain in this episode, setting one up requires more than just ticking a box.
They dive into the purpose behind corporate beneficiaries, including how they help defer tax, protect assets, and support reinvestment strategies. You'll learn about essential structuring steps, such as company setup, trust deed alignment, and family trust election considerations.
A big focus is the compliance risks under Division 7A, which often catch business owners off guard. The team breaks down what unpaid distributions mean, why a formal loan agreement is essential, and how the latest ATO guidance has changed the landscape.
They also explore dividend planning, franking credit strategies, succession, and long-term control, plus common traps to avoid.
If you're considering a corporate beneficiary as part of your trust strategy, this episode gives you the full picture so you can make informed, forward-looking decisions.
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IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
