Free Financial Health Check: Take the stress out of securing your business future

How a vet saved $42,000 with a Shakespeare Financial Health Check.

Here’s a little case study on how a Financial Health Check saved a local vet $42,000 and secured his family’s future.

Adam has a successful veterinary practice with a steady turnover of $350,000 pa, set up as a family trust.

His business was ticking over nicely, however his annual personal tax was high (paying in the vicinity of $129,000 a year), and he had a substantial home loan to cater for the needs of his young family.

Adam sought the assistance of the Shakespeare team to see if their Financial Health Check could diagnose the health of his business structure and potentially provide some personal tax relief.

The Shakespeare team examined all areas of his business and personal situation including:

• • Business structure review including asset protection

• • Assessment of tax minimisation opportunities

• • Business and personal loan review

• • Personal insurance and income protection review

• Superannuation review

The team advised Adam on a number of strategies to better protect his business and the future of his family, including:

• Restructuring the business set-up from a family trust to a company structure
• Finding more suitable loan products that helped save Adam a considerable amount on his home loan
• Increasing Adam’s life insurance to ensure his family would be adequately covered in the event of Adam’s death or total disability

These changes resulted in a reduction in Adam’s tax from $129,000 to $87,000 – which is a saving of $42,000!

The team at Shakespeare were delighted with the result, they had successfully put in place strategies to not only secure the future of Adam’s business, but most importantly they secured the future of his greatest asset – his family.

Get a free Financial Health Check, valued at $1250!^

Contact us to see how the team can help secure your future today. This offer is limited to the first 10 people who enquire with us, so get in touch now to secure yours.

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General disclaimer: Our firm provides the information on this website for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles on this website are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose

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