Journey Mapping one’s wealth aspirations is a very personal undertaking. It’s a mixture of insights and experience combined with depth of knowledge. Where planned navigation over time means everything. Whether it be for family or business, we help our clients identify, understand, prioritise and formulate sound strategies for the challenges ahead.

This may appear to be a politically motivated budget – aimed to appease all and offend none – by a standing government on its last legs… and it is… However, from a purely economic point-of-view, we are pleased to see a loosening of government spending at a time of deteriorating economic conditions, rather than a premature return to a surplus in FY19.

With effectively only one sitting day left of the Autumn session, this is an election budget to be voted on by the people. Touted as big on investment without increasing taxes, it is inoffensive, designed to ease cost of living pressures and promote spending.

There were a few small wins for small business in this year’s budget but nothing unexpected nor previously flagged. This reflects a continuation of the tax agenda from previous years along with a focus on addressing the skills shortage, though in a different manner to previous budgets. Research & Development incentives have been pruned further without any refining or refocusing of the program – this will disappoint the start-up community. All in all, it is modestly positive for small business but without a proper focus on productivity improvements the budget is short-sighted in its approach to innovation reforms.

Blood is thicker than water, and money is thicker than both. Families are a collective of related but diverse individuals with their own motivations.  Navigating the journey of transferring family wealth is no easy task. 

Success comes with sacrifice. Weekends at the office, missing family milestone events, financing growth perhaps in the midst of a global financial crisis. It’s a balancing act, and the journey is anything but a straight line. Putting yourself on the line every day and building a business is not for the faint-hearted. It’s a lonely journey, and wise confidantes are hard to come by. Complex topics such as succession, tax strategy, asset protection and wealth development are all twists in the journey towards financial peace of mind.