DO YOU HAVE PEACE OF MIND THAT YOUR ASSETS ARE SAFE FROM THE GREEDY GOLDDIGGING PREDATORS OUT THERE?

DID YOU KNOW that:

• 1 out of every 4 people (on average) get sued?
  
• There is a lawsuit every 1 minute?
  
• The average person gets sued 3 times in their lifetime, with a strong possibility that one will be a devastating lawsuit and WIPE THEM OUT?
  
• NSW is the 3rd most litigious State in the world behind California and Texas , with Victoria not far behind?
  
• In 2004 in the US , the average jury award in a lawsuit was $1.8 million?
  
• The success rate of lawsuits in the US last year was 61%?

Our world has gone insane! Consider the following ludicrous warning labels that companies have now resorted to to protect themselves:

"This costume does not enable flight or super strength" (Superman costume)  

"Do not iron clothes on body"

"This product moves when used" (Razor scooter)

"Do not eat" (Apple's iPod shuffle)

It would be funny if it wasn't serious.

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For EXAMPLE:

You can be liable for the debts of others in your business in some circumstances, no matter how well protected you are, eg. partnerships, badly structured trusts

If you are a company director, you are liable for unpaid PAYG and GST, EVEN IF you left it up to other director and had no involvement in that regard.

You can be liable for back taxes & penalties because the government arbitrarily changes an administrative policy.

But I Am Fine. I Have Insurance.

Don't be so sure. There are a number of reasons why your insurer may refuse to cover you:

You have breached the fine print of the policy.

You have a large excess and are forced to defend an unfair lawsuit

You failed to declare a fact that you thought immaterial but under the policy was required to be declared to the insurer (this happens more often than you think)

But I Don't Have To Worry: I Am An Employee. My Employer Will Protect Me.

Don't be so sure.

If you think an employee cannot be sued, you are in for a rude shock.

In Houghton v Arns , an employed website designer was held to be liable when the company went broke. A sobering result.

This sounds great. But what about me? I don't have much Money. I think I'll just wait until later on ...

That is the WORST THING YOU CAN DO! Seriously ...

Let us give You a real life example.

We once had a client come and see us. He and his wife had $2 million of assets. He had worked hard all his life as an investment advisor. One day, he made an error of judgment in advising a client. Just one. However the consequences may be disastrous. He may not be covered by his professional indemnity insurance because he didn't follow the strict conditions of his policy. If he is sued, most of his assets are exposed because they are in his own name. Even his wife's assets are at risk because she was a director in his company until recently.

Suddenly his hard earned wealth is not as secure as it was before ...

At Tax Intelligence ™ , we have dealt with many clients who have done just that. They start trading or buying assets in their own name.

But once they make their first million (or thereabouts), they realise they are paying far too much tax. They realise their assets are vulnerable and come to see us to reduce their tax and protect their assets from possible lawsuits.

So ensure You invest the time and effort to discuss Your circumstances with the Tax Intelligence™ team before You run a business, trade markets, or invest in property or shares. Get it right the first time.

And save Yourself money in the long run! 

What if I have already started my business/trading/investment activities?  

Don't worry, we can still help You. 

There are still ways for us to reduce Your tax or protect Your assets.

The only difference is you will pay a lot more money initially to get your new structures working properly. You also have to consider that once you change a structure, it generally takes 2-5 years before the full asset protection benefits kick in.

Despite this, we can assure you that it will be the best decision you have ever made for Your future tax minimisation, asset protection and business planning needs.

So How Do I Protect Myself?

The secret of the rich is companies, trusts and in-house mortgaging.

Click here for more on companies and trusts

Click here For frequently asked questions on asset protection

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