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But is it time to review the strategy? From 1 July 2023 the Division 7A interest rate has increased from 4.77 per cent to 8.27 per cent, with the possibility that the rate will increase even further.
This provides an opportunity for you to meet with your advisors to review the loans you have in place and strategise around the best approach to dealing with this period of increased interest rates.
Should you wish to discuss this further in relation to your individual circumstances, please reach out to a member of our team to book in a meeting.
New “EET election” option for discretionary trusts to avoid the minimum 30 per cent without having to restructure, but creates inflexibility.
For many successful families, creating wealth is only the beginning. As your businesses, investments and family interests grow, arrangements that once worked well can become difficult to manage.
The announced 30 per cent minimum tax on discretionary trusts creates significant challenges for private groups.
