Family wealth and private client

Entrusting RSM to provide your family wealth delivers a unique experience that meets your needs, expectations and preferences. From an independent and unbiased perspective, we provide a flexible and integrated family office service designed to meet your unique family wealth circumstances and vision. We take into account all of your needs, to instil confidence and a sense of comfort in managing your affairs.

As your trusted adviser we act as the central hub for the management of your tax, wealth transfer, risk management, lifestyle and family financial reporting needs, ensuring that decisions and professional relationships necessary to safeguard and grow your wealth are centrally managed and coordinated.

For us, it’s about establishing long-term relationships built on trust. Trust that you can rely on us to deliver the insights, services and resources to assist you to manage your affairs. We believe that when our clients trust that we fully understand what’s important to them and back it up with genuine counsel and support, they are more confident in the choices they make.

Every family office is unique and tailored entirely to fit your requirements. Family Office services can often include:

  • Accounting, income tax planning and compliance services
  • Expense management and financial reporting
  • Family payroll and employment activities
  • Estate and wealth transfer planning
  • Risk management and asset protection planning
  • Co-ordinating legal, investment & tax advice in administering your affairs
  • Philanthropy planning
  • Family education and governance
  • Investment monitoring and reporting

 

Entrusting RSM to provide your family wealth delivers a unique experience that meets your needs, expectations and preferences. And it’s how we measure the very real and tangible value you receive when working with us to provide that extra layer of comfort and security that is sometimes required.

Mandatory Director ID Numbers

Mandatory Director ID Numbers

What is a Director ID? A Director identification number (Director ID) is a unique identifier you need to apply for once and will keep forever. It will help prevent the use of false or fraudulent director identities.
The End of Bed Licenses – A game changer for the Aged Care sector?

The End of Bed Licenses – A game changer for the Aged Care sector?

From 1 July 2024, the Australian government will abolish bed licenses and the Aged Care Approvals Round (ACAR) process in response to the recommendations of the Final Report of the Royal Commission into Aged Care Quality and Safety (Royal Commission).
Assets and Family Law During Separation

Assets and Family Law During Separation

When it comes to separating, no two cases are the same.  Some clients will have assets that they are looking to grow or protect, while others may be under financial hardship and considering engaging an insolvency specialist.

Justified Trust for Significant Private Clients and Family Groups

A recent interaction with the ATO saw a significant client enter into a “Next 5,000” review.  It was a learning experience given the client was new to the firm and we had limited knowledge of the historical transactions.  Nonetheless, the client’s expectations were high:
Primary Producers Set to Lose Tax Deductions on Holding “Vacant” Land

Primary Producers Set to Lose Tax Deductions on Holding “Vacant” Land

The ATO have issued draft taxation ruling TR 2021/D5.

thinkBIG - Succession Planning

For most privately owned and family firms, succession means planning for the sale of your business or handing over control to other family members when you retire. In this report, we not only look at the details for a successful succession plan, but we also take a look at timelines for the best execution of a succession plan.
Succession plan in place – what needs to be done next?

Succession plan in place – what needs to be done next?

Farming families generally acknowledge that having a documented succession plan is a good idea.
Managing expectations in farm succession

Managing expectations in farm succession

Farm succession can take on a different meaning for different people and managing expectations around succession is often tricky.
Changes to Compulsory Super Guarantee Payments

Changes to Compulsory Super Guarantee Payments

As part of Australia’s superannuation system, employers are currently providing superannuation guarantee of 9.5% under Superannuation Guarantee (Administration) Act 1992 (Cth).
Farm Succession Planning and the four fundamental questions you need to know

Farm Succession Planning - Four fundamental questions

Farm succession planning is undeniably multifaceted. Not only do you need to consider the needs and wants of the older or retiring generation, but also the younger generation farmer and their siblings – who are probably not all farming, yet will all need to be brought to the table.
10 common questions when considering estate planning

10 common questions when considering estate planning

It is all too easy to delay your estate planning, as thinking about what happens to your estate after you pass away can be quite daunting. All too often, people fail to ensure their estate is properly taken care of, which can result in unnecessary stress for their loved ones.

Indicators of business value for family law matters

When a set of financial statements comes across your desk, what are the key items you should look out for to determine whether a valuation should be sought to assist in the property settlement?
Budgeting

Effective Budgeting for agribusiness

With harvest rapidly ending, attention is turning to the next phase in the farming business operation, planning for the next season. A good way to start planning is to prepare your budget for the coming year!
Cashless Transactions: The Way of the Future?

Cashless Transactions: The Way of the Future?

Selecting and implementing the right technology in your business can be overwhelming and confusing. As technology continues to advance, the choices become endless and it is understandable many businesses choose to throw it in the ‘too hard basket’ and continue doing business the way they have done in the past.
Accounting 101 for Family Lawyers

Accounting 101 for Family Lawyers

Do you find yourself wading through financial documents and pondering the same accounting questions time and time again?
Family Law

Family Law and bankruptcy - assets that vest in the Trustee of the bankrupt spouse

When one of the parties to a Family Law proceeding is bankrupt, it is important for the lawyers involved to understand the assets that form part of the bankruptcy (i.e. the assets that vest in the Bankruptcy Trustee) and the assets that do not form part of the bankruptcy (i.e. exempt assets).
Six important aspects to set yourself up for the next chapter after divorce

Divorce & Financial Planning – Six important aspects to set yourself up for the next chapter

When separating from your spouse there are often headline issues like sorting out the custody of the children, ongoing support payments, and splitting assets which take priority over other items.
Family Law

Family Law: Trust Distribution Case Study

Disclaimer of Trust interests beyond Family Court settlements – the risk for a vulnerable spouse?
Rental property FAQ's and common issues tackled

Rental property FAQ's and common issues tackled

During these uncertain times of COVID-19, some clients have used the time to assess their finances and plans for the future.
RSM’s multidisciplinary Family Law Support team are experts in untangling the financial web in family law matters.

Case Study: Untangling the financial web

Understanding financial statements and their underlying supporting documents can feel like interpreting a foreign language, but they contain a wealth of important information for property settlements.
Queensland may offer you ex gratia relief from a land tax liability.

Queensland foreign owner land tax surcharge: Ex gratia relief guidelines

In last year’s State Budget, the Queensland Government unexpectedly announced an immediate 2% surcharge on the Queensland land tax liabilities of foreign companies and trustees of foreign trusts (collectively, “foreign owners”).
Ethical investing is part of a broader approach to ensuring a sustainable future for generations to come.

Ethical investing with a clear conscience can be very profitable

Global coverage and media attention on climate change had fallen 59% in early 2020 at the outset of the Covid pandemic, does this mean climate change was 59% less of a problem? Obviously not...
SMSFs

Top 5 issues with SMSFs and Family Law

Superannuation and SMSFs are becoming increasingly complex, especially in a family law situation.
Land tax relief for landlords and tenants has just been released

Land tax relief for landlords and tenants

Land tax relief for landlords and tenants following the release of the Mandatory Code of Conduct The National Cabinet recently signed off on the Mandatory Code of Conduct (“the Code”) for commercial landlords and tenants, which included a set of “good faith leasing principles”. 

Agreed Value Income Protection policies will be banned by APRA

1 April Deadline – Agreed Value Income Protection policies will be banned by APRA! Following a recent review of the life insurance market, APRA have announced proposed changes to income protection policies.

What happens to property you may own in the event of your death?

You know the saying, there are two certainties in life: death and taxes and I'm going to be covering both of those. This article highlights what happens to property you may own or control on your death. 

Superannuation Legislation for High Income Earners

The Government has passed superannuation legislation for high income earners (with income exceeding $263,157 per annum) which allows employees with more than one job to choose not to have the 9.5% superannuation guarantee paid by all their employers.

Asset protection vs tax optimisation

In business, there are many risks that are simply out of your control. This thinkBIG report takes a closer look at one of the great conundrums for owners of small businesses - the balance between asset protection and tax optimisation.

New superannuation legislation – where do you stand?

Government releases more superannuation legislation