HA Accounting has delivered advice in estate and succession planning for many clients. We cover many aspects;  from farm succession planning, to retirement plans & testamentary trust setups. If you think you need to get yours or your family’s affairs looked at, we can offer a comprehensive financial health check as well.

Retirement planning

Retirement planning can save you thousands of dollars, so planning for your winding down should be a top priority. The team has plenty of strategies to make sure you meet your financial goals now, for your retirement, and for beyond retirement. We can help with:

• Superannuation
• Investments
• Capital gains tax minimisation
• Other tax minimisation strategies
• Business and farm handover

Business & Farm Handover

Business handover, or farm handover, can be one of the most complex parts of your estate planning.

We can help you to minimise capital gains tax and other burdens by using strategies such as gifting and foregone wages for farm land transfer without affecting your age pension.

Testamentary Trusts

Testamentary trusts benefits include asset protection and tax reduction for the beneficiaries from the inheritance income. When taking an inheritance in their personal name, the income is attributable to their personal income paid at their marginal tax rate.

There can be tax advantages in taking an inheritance through a testamentary trust in such cases listed below:

• A spouse with a high income in a high marginal tax rate
• A spouse with a lower income
• Minors (children and grandchildren under 18 years of age)
• Taking advantage of the tax free threshold
• Children or grandchildren in a low income bracket.

Deceased Estates

In the event of your loved one passing away, our team can assist with processing and winding up financial and tax affairs for you. We can assist with streamlining the process to make it as smooth as possible throughout this difficult time.