Managing business profits effectively is crucial to minimising tax risks and optimising cash flow. In this episode, Stuart and Mena break down the complexities of withdrawing business income for personal use and the potential tax consequences if not done correctly. Many business owners assume they can freely access business profits, but the ATO closely monitors such transactions.
They discuss the risks of high retained earnings, how to legally and tax-efficiently withdraw funds, and strategies for handling major financial needs—whether it's paying off a home loan, funding an investment, or preparing for retirement. Learn about Division 7A loans, dividend strategies, and structuring techniques that can help you use your business cash wisely while staying compliant.
If you're a business owner looking to balance tax efficiency with wealth-building, this episode is packed with valuable insights!
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Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
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IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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