In this episode of The Accountant That Builds, host Shannon Smit discusses the massive wealth transfer expected from Baby Boomers to the next generation, estimated at $84 trillion. Shannon highlights the opportunities and challenges of this wealth transfer, focusing on estate planning, tax liabilities, and how Baby Boomers are increasingly offering financial support to their families during their lifetimes. She explains the often-overlooked 17% tax on inherited superannuation and emphasises the importance of tools like testamentary trusts to protect family wealth from divorce settlements and creditors.Shannon also explores investment and education bonds, which have evolved into tax-efficient strategies for multi-generational wealth transfer. These bonds allow for tax-free growth over 10 years, offering flexibility and security for both current and future generations. By planning early and carefully, Baby Boomers can minimise tax burdens and ensure their hard-earned wealth benefits their families for years to come.

In this episode of The Accountant That Builds, host Shannon Smit discusses the massive wealth transfer expected from Baby Boomers to the next generation, estimated at $84 trillion. Shannon highlights the opportunities and challenges of this wealth transfer, focusing on estate planning, tax liabilities, and how Baby Boomers are increasingly offering financial support to their families during their lifetimes. She explains the often-overlooked 17% tax on inherited superannuation and emphasises the importance of tools like testamentary trusts to protect family wealth from divorce settlements and creditors.Shannon also explores investment and education bonds, which have evolved into tax-efficient strategies for multi-generational wealth transfer. These bonds allow for tax-free growth over 10 years, offering flexibility and security for both current and future generations. By planning early and carefully, Baby Boomers can minimise tax burdens and ensure their hard-earned wealth benefits their families for years to come.

Welcome to The Accountant That Builds, a workshop style business and finance podcast focused on providing actionable advice to empower individuals and business owners to build lives and businesses they really love.

When host Shannon Smit decided to start her own accounting and business advisory firm, she had a vision from the beginning. With a career spanning global firms in New York, Prague, Amsterdam and Melbourne, Shannon chose to forgo a partner position at a Big 4 firm in New York, in favour of setting up a globally minded, local approach firm offering strategic tax, business and financial advisory in her local region, Mornington Peninsula. She wanted to give local business owners access an advisor with extensive global expertise, without having to travel to the city.  17 years on, and she’s got stories to tell about business and wealth building! Are you ready to build your business and your wealth?  

www.smartbusinesssolutions.com.au/podcast

Welcome to The Accountant That Builds, a workshop style business and finance podcast focused on providing actionable advice to empower individuals and business owners to build lives and businesses they really love.
When host Shannon Smit decided to start her own accounting and business advisory firm, she had a vision from the beginning. With a career spanning global firms in New York, Prague, Amsterdam and Melbourne, Shannon chose to forgo a partner position at a Big 4 firm in New York, in favour of setting up a globally minded, local approach firm offering strategic tax, business and financial advisory in her local region, Mornington Peninsula. She wanted to give local business owners access an advisor with extensive global expertise, without having to travel to the city.  17 years on, and she’s got stories to tell about business and wealth building! Are you ready to build your business and your wealth?  
<a href="https://www.smartbusinesssolutions.com.au/podcast/">www.smartbusinesssolutions.com.au/podcast</a>

The Accountant That Builds

Welcome to The Accountant That Builds, a workshop style business and finance podcast focused on providing actionable advice to empower individuals and business owners to build lives and businesses they really love.

When host Shannon Smit decided to start her own accounting and business advisory firm, she had a vision from the beginning. With a career spanning global firms in New York, Prague, Amsterdam and Melbourne, Shannon chose to forgo a partner position at a Big 4 firm in New York, in favour of setting up a globally minded, local approach firm offering strategic tax, business and financial advisory in her local region, Mornington Peninsula. She wanted to give local business owners access an advisor with extensive global expertise, without having to travel to the city.

17 years on, and she’s got stories to tell about business and wealth building! Are you ready to build your business and your wealth?  

Welcome to The Accountant That Builds, a workshop style business and finance podcast focused on providing actionable advice to empower individuals and business owners to build lives and businesses they really love.
When host Shannon Smit decided to start her own accounting and business advisory firm, she had a vision from the beginning. With a career spanning global firms in New York, Prague, Amsterdam and Melbourne, Shannon chose to forgo a partner position at a Big 4 firm in New York, in favour of setting up a globally minded, local approach firm offering strategic tax, business and financial advisory in her local region, Mornington Peninsula. She wanted to give local business owners access an advisor with extensive global expertise, without having to travel to the city.
17 years on, and she’s got stories to tell about business and wealth building! Are you ready to build your business and your wealth?

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