Peter and Helen were aged in their mid-50's when they sold their business and retired in early 2002. Over their working life they had successfully acquired wealth in excess of $2.5m. Upon retirement they sold their 50% equity in the business for a capital sum of $1.8m.
The need for Peter and Helen's wealth restructuring was created by their need to replace their net wage of $136,000 pa. A potential roadblock would be the capital gain of $210,000 on their investment property should they realise the asset.
Peter and Helen's wealth restructuring provided them with a sufficient income stream to meet their day-to-day living needs and discretionary living needs, while still achieving their long term wealth objectives.
Peter and Helen now receive an annual income in excess of $135,000 with little tax. They were also able to save capital gains tax of more than $65,000 on the sale of their assets. They have now grown their wealth to over $5m, all of which is growing in a tax-free environment.
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© Lanham Investment Advisory Pty Limited, 2006. All rights reserved. Lanham Investment Advisory, AFS Licence No. 222 769
