Individuals and Families

Personal tax returns are not something you like to face alone, not just because they’re tedious, but also because you’re never sure if you have covered everything and - more importantly - claimed everything to which you are entitled. With an ever-changing regulatory landscape, even those familiar with tax can fall behind. You need a tax time partner with both the expert knowledge and constant access to the latest information. With our highly experienced team at your side, you can rest assured that you will receive the best possible outcome at tax time.

Kerry Packer once said, “If anybody in this country doesn’t minimise their tax, they want their heads read.” Most - if not all - of our clients, even the non-billionaires, are interested in legal tax minimisation. Within the bounds of Australian law, we apply all our commercial knowledge and experience in developing practical strategies and solutions that you can apply for tax minimisation or deferral purposes. This is of particular interest to: trust beneficiaries, farmers, business partners, private company shareholders, high net worth individuals and philanthropists.

Considering investment opportunities can be an interesting and even enjoyable experience, but few people are confident in their ability to develop and execute an investment strategy that is likely to achieve their short to long term goals. Many aren’t even sure what their financial goals are. Our wealth team partners with clients to explore their aspirations, often taking into account their families and future generations, along with their financial capacity and risk tolerance. Once we’ve agreed on a clear investment strategy, we guide and educate our clients through its implementation with the aim of achieving their financial and personal goals sooner.

Many Australians have some strange priorities when it comes to insurance. We would happily drop more than a grand covering our car, but think twice about protecting our dependents in the case of unexpected death, temporary or permanent injury. In most cases, we’re just not aware of the cover that’s available and how affordable it can be. Of course, it’s not nice to think about, but it’s far worse to imagine your family grappling with mortgage, school, car and other major expenses with one less income to rely on. We help our clients determine what cover they need, given their commitments and lifestyle, then assist them in obtaining the right policies.

Clients regularly ask us to establish and administer their Self Managed Super Funds in order to take back control of their own investment portfolio as well as access estate and tax planning benefits. Making a substantial financial saving on retail fund management fees is the cherry on top. In short, this is an area of increasing interest but also great complexity and difficulty. At Allworths Wealth Management Pty Ltd, owned and managed by the partners of Allworths, we’re not aligned with any financial institutions. We choose to align ourselves only with our clients, only recommending products that are in their best interests.

You might not take marriage advice from someone who has been through divorce multiple times, but you would probably trust in their knowledge of their obligations and entitlements. At Allworths, we’ve guided numerous clients through this difficult and highly complicated time. We can help ensure that cooler, more rational, heads prevail at what is otherwise an extremely testing and emotional time. While emotions understandably run high, we work to ensure that our clients get the best possible outcomes despite the difficulty of valuing different entities and assets while considering complex tax issues. With the benefit of our experience and acumen, our clients are able to quickly close and move beyond a difficult chapter in their lives.

When estate planning is done well, it’s a team effort between your lawyer and accountant. Being the latter, we know that knowledge around our clients’ financial position, structures, family situation and intentions make a critical contribution to the overall outcome. Effective estate planning requires detailed knowledge of many complicated legal, financial and social dynamics. Firstly, ensuring that assets are distributed as intended is not always as simple as it may seem. We can be as involved as our clients would like, to participate in family conversations and provide all applicable options. Secondly, we provide our clients with asset protection strategies to ensure that their family members are protected, sometimes from themselves or their spouses, well beyond their passing.