In this short episode of Business Uncut, Reuben walks you through how New Wave Accounting helped an e-commerce business avoid over a million dollars in tax within just two months without increasing revenue or taking unnecessary risks. By reviewing their existing tax structure and identifying missed opportunities, we restructured their setup, recovered overpaid GST, and secured grants they weren’t aware of. If you’re scaling a business, this episode is packed with insights that could make a big difference to your bottom line.

In this episode of Business Uncut, Reuben dives into a crucial but often overlooked aspect of business planning: the director’s succession plan. He shares real life examples of businesses that faced major challenges when disaster struck without a plan in place. From frozen bank accounts to family disputes, learn why having a clear succession plan can make all the difference in protecting your business, your assets, and your legacy. Tune in to discover a simple, three part framework that can safeguard your business and ensure it continues to thrive, no matter what life throws your way.

In this episode of Business Uncut Reuben and Anthony from New Wave Financial Planning explain how business owners can balance running and growing a business with building personal wealth. They cover when and how to extract surplus cash, tax-effective strategies including SMSFs, and options for short and long-term investments.

The conversation also addresses risk management, insurance, succession planning, and the importance of cashflow awareness and advisor collaboration(accountant, financial planner, mortgage broker).

Listeners will get practical steps to diversify, protect their income, and create a plan that aligns business goals with personal financial freedom.

Welcome to another episode of Business Uncut with Reuben. In this episode, we dive into essential strategies for starting the new financial year on the right foot. As the financial year begins, it’s crucial for business owners, whether solo operators or leaders of large teams, to set actionable goals, reflect on the past year’s performance, and plan effectively for the future.

Reuben shares his personal approach to planning, including the importance of taking time to reflect on the previous year’s successes and challenges. Discover how a one-page plan can serve as your North Star, aligning your team with your business objectives and values.

From analysing past financial performance to setting new goals and embracing opportunities for growth, this episode provides practical insights and valuable tips on how to navigate the next 12 months with confidence.

In this short episode of Business Uncut, Reuben dives into a crucial mindset shift for business owners: how to stop letting the fear of taxes hold you back from growing your business. He breaks down the common limiting belief that more profit equals more tax and explains why putting tax first can stunt your business’s growth. Instead, Reuben encourages business owners to focus on profitability, cash flow, and scalability, with tax being a natural by-product of a healthy, successful business. Reuben shares practical insights on how to drive profitability, manage tax planning, and create a business that works for you, not the other way around. If you’re ready to shift your focus and build a more profitable, scalable business, this episode is for you.

In this episode of Business Uncut, Reuben teams up with digital marketing expert Sam Barnes from Fourth Wave Digital to unpack how businesses can scale faster and smarter using paid ads, AI, and data-driven strategies. From cost-per-lead to automation and lifetime value, they dive into the real levers that drive sustainable growth — not guesswork. Whether you’re starting from scratch or stuck on referrals, this episode is your roadmap to building a scalable, profitable, and modern business.

In this episode of Business Uncut, Reuben dives into the impact of Trump’s tariffs on Australian businesses, especially eCommerce owners and exporters. He breaks down how these tariffs can squeeze margins and expose weaknesses in operations, offering actionable strategies to adapt. From renegotiating with suppliers to pivoting your pricing model, Reuben shares crucial advice for navigating the challenges ahead. With a looming trade war, it’s time to make changes now to protect your business long-term. Tune in for expert insights on how to thrive in an uncertain global economy.

In this episode of Business Uncut, Reuben sits down with Jameson Smith, Director of New Wave Law, to discuss the critical legal agreements every business owner should have in place. Whether you’re a startup or an established entrepreneur, Jameson explains the importance of foundational legal agreements like shareholder agreements, intellectual property protection, and contracts with suppliers or clients. Tune in for invaluable insights into how these agreements help safeguard your business and ensure long-term success.

After a break, Business Uncut is back! Join Reuben who is diving into the most crucial steps for business owners who are struggling and want to get back on track. In this episode, Reuben will walk you through the key strategies he has used with some of his clients to turn around their businesses, focusing on increasing profitability and improving cash flow. If you’re feeling stuck and overwhelmed, this episode is for you. Whether it’s refining your financial strategy, streamlining operations, or implementing growth tactics, Reuben will share actionable steps to help you build a strong foundation for success. Tune in for no-nonsense, practical advice that can set you on the path to a more profitable and healthy business. Let’s make 2025 the year of your business turnaround!

🎯 Key Takeaways

Core Points:

  • Always create a shareholders’ agreement, even years into a business’s lifespan, to clearly define shareholder rights and responsibilities. This prevents future disputes.
  • Shareholders’ agreements should cover crucial aspects like dividend policies, buy-sell arrangements, and tag-along/drag-along rights. A lawyer can help structure this agreement.
  • Amendments to shareholders’ agreements require a pre-determined resolution (e.g., unanimous or supermajority). Plan for future business changes within the initial agreement.
  • Shareholders’ agreements are separate from share sale contracts and employment agreements, yet they often interconnect.
  • Valuation clauses in shareholder agreements are crucial to avoid conflict when shareholders want to exit. A formal valuation should be performed.
  • Consider incorporating clauses that address potential issues such as employee share ownership, family law events, and asset purchases.
 

🔍 Summary

Shareholders’ Agreements: Importance and Key Clauses

Shareholders’ agreements are vital for businesses with multiple owners. They go beyond a company’s constitution by detailing dividend policies, buy-sell arrangements (including insurance policies for disability or death), and tag-along/drag-along rights (allowing minority shareholders to participate in sales and giving majority shareholders the right to force sales). These agreements should be created from the start, but can be adopted later—though this is more challenging. Amendments require a pre-defined resolution process, typically unanimous or a supermajority. Failing to have a shareholders’ agreement can lead to disputes and costly legal battles, highlighting the importance of proactive planning.
 

Shareholders’ Agreements vs. Other Agreements and Common Clauses

A shareholders’ agreement differs from a share sale contract (governing share transfers) and employment agreements. However, these agreements can and should be integrated to prevent conflict. Unusual clauses can be added to suit specific needs, like restrictions on company asset purchases (e.g., high-value vehicles) requiring shareholder approval. The agreement can also tie employment to shareholding, preventing a shareholder from ceasing work and still holding shares. One example discussed was the dispute where a shareholder wanted a significantly inflated price for his shares, causing problems for the remaining shareholders.
 

Share Valuation, Tax Implications, and Dispute Resolution

Determining a fair share valuation is crucial. Simply stating a desired price isn’t sufficient; it should be determined using a proper valuation method. The sale of shares at a discounted price can trigger unexpected tax liabilities for the seller. Clauses like “good leaver” and “bad leaver” provisions can address this. Clawback clauses can also protect companies if employees leave within a specific time frame. Share dilution occurs when new shares are issued, decreasing the percentage ownership of existing shareholders, often used for fundraising or bringing in new owners. Disputes over shareholders’ agreements are common, often stemming from a lack of a formal agreement or poorly-drafted clauses, often ending in court.
 

Shareholder Structure, Dividends, and Director Duties

A shareholder can be an individual, a company, or a trust. Trusts are often preferred for asset protection and tax minimisation purposes. Transferring shares to a trust after the business is established requires valuation, potentially triggering capital gains tax. Operating a business through a trust or sole proprietorship limits the ability to bring in additional business owners; a company structure offers more flexibility in this area. Dividends are paid from retained earnings, not current profit, and are subject to franking credits which affect the shareholder’s tax liability. Directors have specific duties under corporate law (acting in good faith, avoiding conflicts of interest, and maintaining accurate financial records), failure to uphold these can result in significant penalties.
 

Joint Ventures and Partnerships

Joint ventures differ from partnerships; JVs are for specific projects, while partnerships are ongoing business arrangements. Joint venture agreements should detail responsibilities, profit-sharing, and intellectual property ownership. Partnerships are considered by some to be outdated, often lacking clear stipulations regarding profit distribution and asset ownership, leading to future conflicts. It is generally recommended to avoid partnerships in favor of a company structure to avoid potential issues.
 

Legal and Accounting Fees

Legal and accounting fees associated with business restructuring and legal agreements are generally tax-deductible if directly related to business operations.
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101 Strategies for Business Owners To Save Tax

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