Financial advice and mortgage broking | wealth creation and management

We are your central point for all things business and wealth – services that we don’t provide personally are covered by trusted referral partners who execute their work with the same level of experience and high quality advice that you can expect from Patison.

Mortgage broking and financial planning are two essential facets to your wealth creation and management. These services go hand in hand with ours and the benefit of working with our partners means you have a team surrounding you that are cohesive and completely across your current situation and future goals.

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News and Insights

Division 296: Superannuation Legislation Update

It was hard to escape the media coverage of Labor’s proposed superannuation tax legislation changes earlier this year, impacting those with superannuation balances above $3 million. Since the initial announcement garnered criticisms from many, we’ve received some welcome revisions from the Federal Government. Read on to learn what the tax is, the changes that’ve been made and who it will affect.

Division 7A: What Every Private Company Owner Needs to Know

Division 7A is legislation designed to prevent private companies from distributing profits to shareholders or their associates in the form of loans, payments, or debt forgiveness instead of taxable dividends or wages. A common example of this is for a business owner to transfer money to themselves over and above their wage or for the business owner to pay for something on the company credit card that is not deductible. Whilst the rules are relatively complex, here is a summary of what you need to know.

The Tax Impacts of Division 7A Loans for Australian Business Owners

Division 7A of the Income Tax Assessment Act is a critical aspect of Australian tax law, targeting private companies that provide financial benefits to shareholders or their associates. If these transactions are not properly managed, they can be deemed unfranked dividends, leading to unexpected tax liabilities.

What's the Skills and Training Boost Tax Deduction?

Professional development is integral to most, if not all, workplaces and many of our clients have programs in place that mean team members can access additional training courses throughout the year. It means upskilling the workforce which can only mean good things for the economy! The ATO is rewarding such leadership with a new Skills and Training Boost. Read on to learn what it is, and if you’re eligible.

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Business loans

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Related Articles

Division 296: Superannuation Legislation Update

Division 7A: What Every Private Company Owner Needs to Know

The Tax Impacts of Division 7A Loans for Australian Business Owners

What's the Skills and Training Boost Tax Deduction?

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Services

Financial Services

Mortgage broking

Business loans

Financial advisory

Wealth management

Related Articles

Division 296: Superannuation Legislation Update

Division 7A: What Every Private Company Owner Needs to Know

The Tax Impacts of Division 7A Loans for Australian Business Owners

What's the Skills and Training Boost Tax Deduction?

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