Snapshot of what’s happening within the accounting industry and our firm

Australian Government grants & assistance

There are a vast number of Government grants available to small businesses to help and encourage them to grow. But how do you find them?

Click here to find out.

Testamentary trusts – what are they?

A “testamentary trust” is a trust created in your will, which only comes into existence upon your death. Your will needs to clearly summarise the rules of the “testamentary trust” that you are creating and for this reason it is imperative that a solicitor be used to draft your will.

For a list of benefits and points to note, click here.

Which structure is best for you? – Discretionary Trusts

Family or discretionary trusts are one of the two types of trusts available (the other being a unit trust which will be covered in a later issue).

Click here for a look at the advantages and disadvantages of this structure.

ATO’s ceasing to issue paper Activity Statement

As of 1 July 2014, the ATO will stop issuing paper activity statements if you have last lodged your activity statement electronically. If you have been completing and lodging your activity statements on paper, and you want to continue to do the same, then you do not need to do anything.

Click here for more information.

Quote

People rarely buy what they need. They buy what they want.

– Seth Godin

*Correct as of July 2014

*Disclaimer – this article has been produced by Kreston Stanley Williamson as a service to its clients and associates. The information contained in the article is of general comment only and is not intended to be advice on any particular matter. Before acting on any areas contained in this article, it is imperative you seek specific advice relating to your particular circumstances. Liability limited by a scheme approved under professional standards legislation.