Welcome to the latest news and updates from ilumin
In this edition of our newsletter we have some important information for those of you who have Family Trusts, or any other type of trust, regarding The Trusts Act 2019 which comes into effect in January 2021.
Also some tips on maximising your cashflow if you run a cash based business
The Trusts Act 2019 - how will it impact you?
Trusts are common in NZ and the reasons for setting them up vary. Changes to the act aim to make trusts more accessible. There are increased compliance obligations on trustees and duties that ensure greater transparency for beneficiaries.
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Your Business is not Your Life
Work on your business rather than in your business so that you can reach your lifestyle goals. Ask us to work with you to help you run your business instead of your business running your life.
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Maximising your cash reserves
Many businesses simply don’t have enough cash to sustain their business in a crisis. Here are some suggestions we have to help with this.
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Parting Thought
"Successful outcomes are never the result of a single choice. They are built up through good choices over time.
A profitable business is never a choice, it is a series of choices.
A fit body is never a choice, it is a series of choices.
A strong relationship is never a choice, it is a series of choices."
James Clear
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