RSM Australia

Succession planning and estate planning

The impact of succession planning and estate planning is essential for the successful future handover of your business.Business people, whether primary producers, manufacturers, retailers or others, must all consider the succession planning and estate planning of their business.

The impact of a poorly planned succession can be substantial in terms of taxation, administrative costs, relationships and stress, so it is essential to plan for the future handover of your business.Those SME owners who opt for a well-planned succession enjoy greater benefits, both financial and personal.

Our succession planning consultants help SME owners plan and execute the smooth succession of their business, whether it be to new owners, the next family generation or upon their death or incapacity.
As required, we draw on the advice of solicitors for legal issues.

Our Succession planning and Estate planning services include:

  • planning and managing asset transfers
  • management succession
  • wills and enduring powers of attorney
  • family dispute resolution
  • family wealth appraisal
  • administration of deceased estates
  • company and trust formation and structuring
  • life insurance and superannuation
  • planning for retirement
  • advice on pension eligibility

Succession planning tips for Australian manufacturers

Many businesses are focused on the ‘now’ and in our current climate, that is completely understandable when life is about survival. However, when this current phase passes, we will revert to (a new or other) normal and the issues that have always faced business leaders will still be there.
Rental Properties

Rental properties: An ATO hotspot

Rental properties are a great investment to help build off farm assets, which can be used later in life as part of a great succession plan. In the meantime, you can enjoy earning a bit of off farm income and perhaps claiming a few deductions along the way, but it’s important to know what you can claim and how much you can claim.
retirement

Retirement - How much do I need?

Retirement: a delightful word that conjures up images of days spent in slippers, volunteering to help others, rediscovering old hobbies, taking long cruises in the Mediterranean, or just enjoying your new found freedom.
Succession Planning

Succession Planning tips for farming families

Succession planning for farming families can be quite daunting and there certainly are some horror stories on how it can spiral out of control. The flip side is succession planning can be a very rewarding process for all involved if tackled with goodwill and respect.
Superannuation

Pre-retirement planning checklist and superannuation

Many people only start planning for retirement when they enter their 50s and other family commitments have begun to decrease.
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.

JobKeeper and Compulsory Superannuation Guarantee

The Coronavirus Economic Response Package (Payment and Benefits) Rules 2020 (JobKeeper rules) were registered by the Treasurer on 9 April 2020.

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.

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.
Keep your succession plan on the right road!

Keep your succession plan on the right road!

At the mention of the words “Succession Planning”, many different emotions may arise. For some, it can be a confusing and difficult time. For others, a more enjoyable experience, an opportunity to help the next generation grow and develop.

The future of general practice: cash flow, growth and innovation

The future of general practice is truly at a crossroads, with many challenges but also a range of opportunities.

Liquidity a problem? Give your business a health check !!

Companies relying on historically low interest rates to mask their true capacity to pay bills when they fall due, need to seriously address debt serviceability once the official cash rate starts moving higher which some will say will occur in 2017.

New superannuation legislation – where do you stand?

Government releases more superannuation legislation

Divorce and succession planning

Divorce can have a significant impact on the family business, possibly leading to the sale of all or part of it. This article answers some of the key questions around this topic.