Depending on your circumstances, you might want to transfer it on June 30th or earlier but not receive it until July 1st or thereafter. That gets it off your 08/09 books so you won't pay company tax on that profit. You'll pay tax on it in 09/10 instead but your trust can divvy up the proceeds to keep the resulting tax bill lower (e.g. a beneficiary might be yourself and other family members which is a better outcome than taking it all yourself and therefore being in a higher tax bracket). Get an accountant though!
On Dec 16, 8:37 pm, Langy <[email protected]> wrote: > Thanks Elias and everyone else for your advice. So sorry for my > ignorance, accounting has always been a huge grey area. : ) > > I do belong to a trust which owns my company. When my company was > formed I was working with someone who I am still on very good terms > with but he’s since built up his own successful company and is crazy > busy. He’s recommended I find a good accountant but should learn the > ropes a little and get more financially savvy (which is really high on > my new year’s resolution list). > > My question is, how do I divert the money to the trust which I can > then distribute to myself or other parties of the trust? Is this > something that is tailored to each individual business in which case I > should be seeking independent advice for? Or is there a general way to > do it? > > Will read up on the links you’ve posted so I won’t look like a total > idiot when I go accountant hunting. > > Thanks again! --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Silicon Beach Australia" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/silicon-beach-australia?hl=en -~----------~----~----~----~------~----~------~--~---
