fbpx

Is your business ready for the Next Generation?

DATE: Thursday 3rd November, Time: 9am to 3pm (light lunch included)

LOCATION: ILG Offices, 16 Tyrone Place, Erskine Park NSW 2759

Succession-Planning-logos

Succession-Planning-Seminag-Book-Now

DATE: Tuesday 18th October Time: 9am to 3pm (light lunch included)

LOCATION: ILG Offices, 16 Tyrone Place, Erskine Park NSW 2759

Succession-Planning-logos

Succession-Planning-Seminag-Book-Now

What does your family look like?
Most family businesses have a mix of Mum and Dad and one or two children working in the business.  What most businesses fail to look at is what happens to the children who don’t work in the business?  How do the financial decisions around this impact the business from a cashflow and asset point of view?

Here’s what we’ll cover:

Succession Planning
Succession Planning involves big changes for you and your family.  It’s a long term strategy, and is not something to plan just before retirement.  Involving the next generation within the business from an early stage is key to developing a lasting legacy.  Encouraging ownership and involvement, identifying and working with key strengths, skills and personalities and developing leadership confidence by taking an active role early on, is key to a smooth transition and setting the future direction of the business.

Transitioning to Retirement
How to successfully build up the next generation, giving them the skills to be ready and able to take over, ensuring the systems and support structure is in place to make yourself redundant, so you can move on worry free when the time comes and be financially secure for the future.

Case Study
Hear from a family business who has been through the succession planning process, the benefits, the issues they faced and recommendations for others going down the same path.

NextGen - Taking Over the Reins
Determining the best hierarchy and management structure for your family owned business, setting clear boundaries and responsibilities, ensuring key members have a purpose and can successfully work together to resolve work conflicts when they arise.  How to develop the same entrepreneurial culture as the businesses founders, to instil the next generation with the drive to grow and succeed and develop a multigenerational legacy.

The latest Taxation and Superannuation reforms and how they impact you
This changing minefield could provide a wealth of opportunities or penalties depending on your circumstances and operating structure. Taking advantage of existing and changing legislation could benefit both your operating business, your family’s future wealth and asset protection, and the retirement lifestyle of each generation.

About the Presenters:

wayne-patten-2016

Wayne Patten

Director & Head of Hotels Division
PJT Accountants & Business Advisors

Wayne is a qualified Family Business Advisor and Hotel Specialist with over 20 years’ experience in the industry.Wayne has assisted scores of clients transition in to and out of businesses successfully, and has managed the minefield of family business transitions time and again.

kim-cameron-2016

Kim Cameron

Accountant & Business Advisor
PJT Accountants & Business Advisors

Kim is a Senior Accountant and Advisor with many years’ experience helping family businesses. Kim is achieving her Advisor accreditation with Family Business Australia.

Andrew Clement

NSW Field Manager
Independent Liquor Group

Andrew is the NSW Field Manager at ILG, and will MC
our event.

Q&A Panel

Ask our panel questions about your own situation.
With experts in the accounting, business advisory, and family business sectors ready and willing to share their expertise.

What Client's Say

  • "PJT has always provided exceptional accounting service and advice relating to business operation, planning, taxation, investment and more."

    ,
  • "The principals and staff are always approachable and display a sincerity in your business and situation."

    ,
  • "PJT have made our life of running our own business much easier, knowing they are up to date with the latest in tax laws, and happy to help out with any queries we have

    ,
  • "PJT has always provided exceptional accounting service and advice relating to business operation, planning, taxation, investment and more."

    ,
  • "The principals and staff are always approachable and display a sincerity in your business and situation."

    ,
  • "PJT have made our life of running our own business much easier, knowing they are up to date with the latest in tax laws, and happy to help out with any queries we have not matter how small."

    ,

Read Related Articles

Is Your SMSF Investment Strategy on the ATO’s Radar?

Recently the ATO issued a warning letter
to around 17,700 SMSF trustees highlighting the concerns regarding lack of
diversification with the threat of an administrative penalty of $4,200 being applied
if your SMSF fails to meet these diversification requirements under the current
superannuation laws.

Why
have you been sent the ATO letter?

With the ATO’s data collection from the
lodgement of over 17,000 SMSF annual tax returns, they have identified self-managed
super funds where more than 90% of the fund’s investments are held in a single
asset or asset class.

The ATO’s basis for the release of this
letter is the belief

First Home Super Saver Scheme (FHSSS)

What is it?

The scheme is aimed at helping first home buyers save faster
using their ready made superannuation investment vehicle and the concessional
tax treatment of super.

How does it work?

From 1 July 2017 the government has allowed you to make
voluntary contributions into super at a maximum of $15,000 per year and up to a
total of $30,000 across all years as savings for your first home.  These contributions count towards your normal
contribution cap of $25,000 concessional and $100,000 non concessional.

From 1 July 2018, you can apply to release your
contributions made as above plus

Common Mistakes Made By SMSF Trustees

Do you have a Self-managed Superannuation Fund (SMSF)?  Or are you thinking of setting one up?  If either of these apply to you, you should read on to find out more about the common mistakes Trustees of self-managed superannuation funds make and how they can be avoided.

Loans to members

This is the most common breach reported by auditors to the
ATO each year. 

Members (and their relatives) are prohibited from borrowing funds from their SMSF, including short term loans.  Doing so will result in a breach of the Superannuation rules for which

What you don’t know about the Commonwealth Seniors Health Card

When your age starts to get the better of your
health, you will most likely find that your healthcare expenditure increases.
This article talks about the Commonwealth Seniors Health Card (CSHC).

Basically, the Commonwealth Seniors Health Card
(CSHC) is a concession card that provides those retirees that are eligible with
a variety of benefits. There are however some eligibility requirements for this
particular type of concession card:

You must have reached Age Pension age – below is a
table from Centrelink website detailing the age pension ages eligibility:

People born
between

Eligible for

Sunshine Coast Accountants and Business Advisors