For many Small Business Owners their SMSF is an integral part of their retirement strategy. At Powers we have a close affinity with small business owners to ensure that their SMSF is a core part of their wealth creation plan.
Our knowledge of the maximum superannuation contribution that can be made or should be made each year ensures that there will be no exposure to the possibility of an excess contribution tax payment being paid by the business owner or the SMSF.
We work with Small Business Owners to establish an SMSF to create opportunities so they can own their business premises through a borrowing arrangement. Alternatively, we can arrange for the SMSF to lend money back to the small business. These are specialist transactions which we understand and ensure pitfalls and traps are avoided.
We also work with Small Business Owners at the sale of their business to take the maximum advantage of the capital gains rollover reliefs that exist on the disposal of a business as there are limitations on what can be contributed and when the contribution has to be made.