Navigating the new tax reform

As recent tax reforms continue to reshape the financial landscape, it’s important to be aware that a structure or strategy that was suitable several years ago may no longer provide the same benefits under today’s rules. This can also create opportunities for new business ventures and making sure you get the structure right from the start.

As a Chartered Accountant, I often help clients review business structures to ensure they remain fit for purpose, both today and into the future.

While having these conversations early is ideal, many business owners and investors only revisit these arrangements when a problem arises or circumstances change significantly. However, I would encourage a proactive conversation rather than a reactive one.

Your business structure can affect taxation outcomes, asset protection, succession planning, growth opportunities, and administrative requirements.

Similarly, if you’re operating through a family trust, running a business as a sole trader, or considering starting a new venture, selecting the right structure is a decision that can have lasting implications.

With ongoing legislative and tax changes, reviewing these arrangements has never been more important. Now is an ideal time to review whether your current business structure is still aligned with your goals.

Also, whether you’re considering purchasing an investment property or investing in shares, it’s important to understand how that investment fits into your broader financial position.

Factors such as cash flow, taxation, borrowing capacity, risk tolerance, and long-term objectives can all influence which strategy is most appropriate. What works well for one person may not be the best outcome for another.

I can help you identify opportunities, avoid costly restructures, and position yourself with greater confidence and flexibility for the future.

By Theresa Atlee, Chartered Accountant and Registered Tax Agent at Smart Financial