In Australia taxation tends to involve black letter law and thus it is necessary to have regard to form as well as to substance.
This is a book for share and property investors and the owners of small businesses. It analyses the various alternative legal structures which should be considered.
Rather surprisingly, despite a great thirst for knowledge on the part of asset holders, very little has previously been published about this important subject.
The various chapters cover the ownership of assets by individuals, partnerships, trusts, companies and superannuation funds. A description of tax rulings and tips for small businesses are also included. Wills and powers of attorney are dealt with.
A SORT OF SEQUEL
This book complements the earlier work entitled Family Trusts, which explains in great detail how family trusts work and their taxation basis, and which analyses their advantages and disadvantages. This further book Learn more about Family Trusts & Ownership of Assets by Individuals, Partnerships, Companies and Trusts focuses more on the various legal structures which investors and businesses can use, because trusts are not the optimum solution for everybody.
This second edition is 54 per cent larger than the first. The book has been updated throughout. It takes into account the Budget announcements of 9 May 2006. Additional topics such as ethical investments, personal services incomes, double capital gains, insurance and the current marginal tax rates have been included.
Also added for the first time is a very important and rather long chapter featuring selected questions asked by persons actually involved with family trusts and alternative structures, together with comprehensive answers to these. These real life case studies will help to flesh out this important subject.
This book will provide much food for thought for informed family discussions and will also assist readers to analyse the alternatives intelligently with their professional advisers.
With a Glossary, an Index and a Foreword by Paul Sheahan.
296 pages
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