"In America, anyone can become President. That's the problem." George Carlin.
The political circus has ended, the campaign tent is now folded. Americans have elected Donald Trump as their new President. President Trump will lead an economy with deep problems and mixed prospects. The narrow victory for President Trump reveals a divided nation.
Recently a client came in to complete their tax returns and during the process we found that the income protection insurance they wanted to claim was actually paid for by their Super Fund. This sparked an interesting discussion about how income protection deductions work and how claims would be processed.
Disproportionate ownership of business’s is not uncommon, and the correct structuring for your business is critical in ensuring maximum tax benefits, flexibility for distributions, income tax and capital gains, not to mention long term asset protection for all the Partners involved.