Business owners and superannuation

Business Planning Consultancy Brisbane

It is not uncommon for business owners to be imbued with self-belief and the need for control.  They generally need these attributes to succeed.  Unfortunately, many extend the self-belief mantra well beyond the point of common business sense.

Even when operating well inside your own field of expertise, it is wise to build a good team around you.  But whenever you move outside this zone, good advice from trusted advisers becomes a must.

It is not surprising then that many business owners having generated good returns by coordinating processes and influencing people around them; logically extend the notion to their superannuation.   However, self-belief and the desire for control are not enough.

Either you have the time, the desire, and the necessary expertise to generate your own superannuation returns and comply with the law, or you must pay someone else to do it on your behalf.  The law and the ATO (who administers the laws relating to self managed super funds) are fairly unforgiving.

Even managed (e.g. retail) superannuation is not easy, which is why many Australians are reluctant to engage with it.  Self-managed superannuation is even harder.  It encompasses all of the laws of superannuation, and then some.

Most business owners regard their business as a large part of their superannuation.  Rightly so, and the government recognises this.  For instance, the law does recognise the connection between a ‘real business property’ asset and a self-managed superannuation fund by allowing business owners to transfer business premises to their self-managed funds and lease back.  The rules are strict so advice is crucial.

The link between business and superannuation is further recognised in the small business CGT (capital gains tax) concessions, allowing eligible business owners to convert all or part of the ultimate sale proceeds of their business into superannuation with prescribed CGT concessions, after meeting certain gateway tests.  In this case, independant tax and accounting advice is crucial.

The value of appropriate advice from suitably qualified professionals cannot be emphasised enough.  As well as gaining access to the necessary expertise (e.g. financial, legal, tax), timely advice well in advance of any property transfer or sale allows for appropriate eligibility, structuring and compliance planning.

General advice only

This information is of a general nature only and does not take into account what you currently have, or what you want and need for your financial future. It is important for you to consider these matters, seek professional advice and to read the appropriate Product Disclosure State-ment (PDS) before you make a decision to buy, cancel or continue to hold any product. Call me for a copy of any relevant PDS.


Gary Weigh is the Director of Gary Weigh & Associates Pty Ltd ABN 41 084 228 679, Authorised Representative (no. 256617) of The FinancialLink Group Pty Ltd ABN 12 055 622 967 AFSL No. 240938

Business risks & outcomes you never think about!

Business planning consultancy Brisbane

Gary Weigh, principal

Answer the following and then ask yourself if you are prepared for these outcomes.  Are you taking unnecessary risks with the future of the most valuable asset you own.  Business planning could save you a fortune if misfortune strikes.

  1. “If you died tomorrow, would your business die with you?”
  2. “Would you be happy to allow your family to inherit your business debts?”
  3. “Would your spouse be interested or capable of replacing you, after inheriting your share of a business in which he or she had no previous involvement?
  4. “How well do you think your spouse and your business partner would fare together in business if you died?  Is it something that either would want?”
  5. “If you were the surviving business partner, how would you feel about being locked in business with your deceased business partner’s spouse?”

The fact is that most owners don’t have a ‘plan B’.  There is no protection or fall-back strategy in place because mostly, the owner’s focus is in the ‘now’ and not in the future.  There is also a general lack of education and risk awareness.  So business planning tends to be replaced by eternal optimism that nothing will go wrong.

However, Murphy’s Law states that whatever can go wrong will go wrong.  It is only a matter of when and how severe.  When a business starts to suffer, there remains a continuing obligation on the owner to repay business debt, personal debt, leases, contractual payments and other expenses.

Finding a buyer at short notice can be difficult and receiving fair value for your equity is going to be impossible if the business is steadily losing money.

To find out more about Business Succession and Owner Exit planning:

Contact Gary on 0408 756 531 or email

Business planning – tire kickers & chokers

Met another would-be business planning client the other day!   It’s not a regular occurrence, but an occasional distraction.  Many people like the idea of being in business for themselves but the reality scares the crap out of them.  They get at or near the start line and choke.   My brand of coaching removes all the dreaming right after the ‘vision’ stage.  After that it resembles hard work.  After a long period of procrastination, that can be a harsh reality.  The choke statement was that she couldn’t proceed until she received a tax refund she was waiting on.   If anyone really has to wait for a tax refund to pay a business expense (in this case ‘advice’) then they are in real trouble.  If you are serious you’ve just got to man-up (or woman-up) and take control.  It’s just another reason why you plan first!

To know more about business planning

Email me at

Mobile: 0408756531

Risk advisers have every reason to plan

Business planning consultancy Brisbane

Call Gary direct on 0408 756 531

In my last blog post I talked about the true value of risk insurance and the client-focused risk adviser.  However, this praise does not take away from the fact that the risk insurance advice business currently works on a slightly flawed business model.

The flaw is that the commission system has the potential to provide the adviser with a good income even if they don’t provide a good service.   As I have said previously, being paid by the product provider attaches the adviser to the product and a ‘client register’ but does not necessarily attach the adviser to the client over the long term. 

This creates cross subsidies among clients.  This means while all products pay the same, the adviser receives different levels of income depending on factors such as age and health risk.  Consequently, not all clients receive equal service from their adviser.

Healthy young people with low sums insured don’t produce much ongoing commission income and it would be difficult for an adviser to provide service if the same amount was received as a fee. 

It is the older unhealthy smokers with high sums insured that subsidise the service provided to the rest of the client portfolio.

The flip side of this is that the healthy young clients are the long term clients and the future of the advisory business.  The older unhealthy clients are currently profitable but are not long term prospects.

For this reason, every risk adviser and risk advisory business would benefit from some professional advice at my business planning consultancy in Brisbane. 

However, the cross subsidy issue is not the only reason to plan.  Business planning addresses a wide range of other issues as well. 

These include:

  • Building a business as opposed to building a ‘client register’
  • Distinguishing yourself from the legion of ‘look-alikes’ in the market place
  • Presenting yourself as others see you, not as you see yourself
  • Targeting particular groups of customers with specialist services
  • Developing hybrid (fee + commission) based packages
  • Devising and implementing long term client retention strategies
  • Building a valuable rollover or retirement asset for the future

For some advisers with large amorphous client bases, this may necessitate re-focusing and decreasing the client base over time rather than growing it.

#1 Business planning consultancy in Brisbane

Financial services advice you can trust !

Call Gary direct on 0408 756 531 or email

Don’t let health misfortune wreck you financially!

Business planning consultancy Brisbane

For quality protection solutions call Gary direct 0408 756 531

Welcome to our business planning consultancy brisbane!  You’re a business planning business owner!  You work very hard every day to build a better life for you and your family.  You want your kids to have the best possible start to their adult life.

But what if something happened to you? What if you were no longer around? What if you were still around, but could never work again?

What would happen to that better life you envisaged for your family?  Most small businesses are dependent on the health of the owner.

Insurance is the best way to protect against losing everything you’ve worked for. Life insurance, along with permanent disablement and critical illness insurance can help to ensure that your family is taken care of if you can’t take care of them yourself.

Include protection in your business planning.

Call my business planning consultancy in Brisbane on 0408 756 531 

or email now at