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Superannuation strategies for business owners

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By Capital Partners Business Owners

Running your own successful business can be liberating, albeit it also means navigating plenty of financial intricacies, such as the minefield that is tax. One tool that can be invaluable and often underutilised are regular superannuation contributions as a tax optimisation and security strategy for business owners. Business owners have much to gain financially and holistically by revisiting their superannuation strategy. When structured in line with your goals, superannuation can help you to live your ideal life regardless of your business status. We think the peace of mind from that sentiment alone can be life-changing.

The bittersweet reality is that the more successful your business is, the greedier the taxman becomes. Over the years, our team has seen many clients grow their businesses to the point where they pay hundreds of thousands of dollars in tax every year. Time and again, through navigating how to optimise tax outcomes, we find superannuation reigns superior in helping you to reduce this burden. Guided by your objectives, we draw on other professional relationships, such as your accountant, to investigate and take advantage of strategies that may be available to you. As your business continues to flourish, our team can delve deeper into your superannuation strategy and how it can be further leveraged to support your goals.

It is very well known that superannuation protects us in retirement, and it can prove even more valuable for business owners. Where superannuation can really outperform is helping you achieve your long-term goals without relying on a succession event for your business. Strategically managed over time, a superannuation strategy can cultivate a healthy store of assurance for you and your loved ones. These additional savings mean if your succession plan or business sale do not go as planned, you still have certainty about how you will provide for your future. When you revisit your goals timeline with your adviser, a slight adjustment early on, can cause a ripple-like effect, creating greater future possibilities. You deserve to have easy sleeping confidence that comes with feeling secure about your future.

As a successful business owner, superannuation may already play a key role in your overall tax and wealth creation strategy. While helping you optimise the present, superannuation can also de-risk your future, growing your personal safe-deposit box separate from your business. Working as a team, it is possible to strike a great balance between maintaining the success of your business and protecting your ideal future.

The information provided on this site is of a general nature only and may not be relevant to your particular circumstances. The circumstances of each investor are different and you should seek advice from a financial planner who can consider if these strategies and products are right for you.

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