Case Studies.
Read our latest case studies.
Managing the Tax You Pay – with Tax Planning
Harry and Sue had a fantastic year for income in their business due to a very lucrative new market opening for them. We reviewed their business in the last quarter of the financial year with interim accounts so we could recommend some tax planning strategies. By doing this, we were able to save them $25,000 off their tax liability that we would not have been able to do after the end of financial year.
When you become a client of JLR Partners, we can help you with tax planning so you keep more of your hard earned dollars too!
Buying a Business
Mary and Lucy wanted to buy a business. They came to JLR Partners for help because they had never owned a business before. We conducted our ‘Due Diligence‘ process on the business they were considering which uncovered a number of matters that affected the business valuation. This important data gave Mary and Lucy legitimate negotiation power to reduce the price they paid for the business. In fact they were able to reduce the asking price of that business by $75,000. That meant they did not pay too much and had more money in their pocket to develop their business.
We also advised them how to structure the ownership of the business they purchased to manage their income tax and potential capital gains tax payable that would be payable when they sell their business in future. That means they keep more of the money they take through the business allowing them to prosper sooner!
Selling Your Business.
Peter and Brian built a successful services business to the mining industry that had them listed in the BRW Top 100 small businesses. They approached JLR Partners for a second opinion about the Capital Gains Tax implications of selling their business when they were approached by another company to take them over.
Their existing accountant had correctly advised them their tax liability would be $1,650,000 after the business sold. However, JLR Partners was able to offer advice with some prudent re-structuring and tax planning which demonstrated how they could reduce the tax payable by more than $1million.
Further personal tax planning enabled them to remove their tax liability altogether, which proves it pays to get some advice from specialists like us. Keep more of the sale price of your business! You just have to think ahead a bit, because it’s too late after the business is sold.
Maximising Income for Self Funded Retirees
Walther and Glennys were self funded retirees after they sold a successful business and were managing to maintain quite a good lifestyle. However, after markets turned and interest rates declined, they found their income was falling while living costs were escalating.
They turned to JLR Partners for advice and we were able to show them how to restructure their capital base to conserve their asset for the long term. The restructure enabled them to become eligible for a health care card and partial pension, providing them a lot more certainty for their future with subsidized income.
You too could benefit from a review of your current situation to make sure you are gaining all the benefits you are rightfully entitled to; just ask JLR Partners how!
Release Your Business from Debt
Like so many business owners, Kevin needed to borrow money to operate and expand his business. He also helped his children to obtain mortgages by offering a personal guarantee on his business. When Kevin was approached by a competitor to sell his business , he had no idea those obligations could affect the outcome of the sale.
He believed selling the business and paying off his business debts was sufficient. However the bank felt quite differently about it, and insisted he would be required to funds with the bank on deposit to cover the personal guarantee. That meant his sales proceeds would not be his to enjoy his next phase of life.
JLR Partners were able to demonstrate a strategy to release those debt commitments, freeing Kevin to a comfortable retirement.
If you have debt commitments in your business, it’s likely we can help to free you also.
Contact us.
Suite 11, 296 Bay Road
Cheltenham, Vic, 3192
Telephone: 03 9584 5099
Facsimile: 03 9584 6099