The intent of the initiative to impose a minimum 30% tax on discretionary trusts is to eventually bring all discretionary trusts (termed "minimum tax trusts") within the tax net. We cover the fundamental issues at this point in time.

NSW small business owners can now access up to four hours of free, independent business advice each financial year through the Service NSW Small Business Advisory program.

CGT reform is coming. If you leave your business valuation until a future sale, important financial and commercial evidence may be difficult to reconstruct, and Treasury’s allocation formula may not reflect when your business created its value.

We look at SMSF property valuations and related-party leases, and the importance of having appropriate evidence ready to support market values and arm’s-length rental arrangements during the annual audit.

An independent business valuation helped The Trident Fish & Grill understand its value drivers and make informed decisions for future growth.

The Government’s proposed 30% minimum tax on discretionary trusts could have significant implications for some family groups, particularly where trusts distribute income to companies, although the rules remain subject to consultation and aren’t final yet.