ASSET PROTECTION IN THE TRANSPORT INDUSTRY
Truck Insurance HQ is committed to providing outstanding service and advice to clients in the transport and earthmoving industry.
We appreciate that a business’s risk exposure goes further than simply what can be covered by insurance and strive to partner with industry specialists solicitors, accountants and consultants to ensure our clients have the knowledge, tools and resources to operate successfully for years to come.
Phone: 1300 815 344
KMA Business Solutions are business specialist accountants, with a wealth of knowledge in assisting businesses in the transport and earthmoving sectors to ensure they are structured correctly to minimise taxes and maximise profits. Offering a comprehensive suite of services to clients nationally, KMA Business Solutions can help you whether starting out or expanding and needing more complex tax strategies and advice.
Phone: 07 55806626
Many businesses in the transport and earthmoving sector are unaware of how heavily regulated their industry or how exposed a business owner can be when operating as a sole trader or under a basic company structure.
One solution to protect yourself and your family is through a multiple trust structure. Whilst every business’s needs are unique, a simple explanation of what could suit many business would be as follows:
With this structure, you are obtaining a level of insulation between yourself and the company which can help insult your personal assets from those of the company. The family trust can also disperse funds to a spouse, children or any other person in line with your personal tax minimisation strategies.
Many small business, will think that this level of structure is too complicated for essentially what can often be an owner driver, however this sort of structuring
This is not legal advice and you should confirm this strategy with your accountant or lawyer.