Episode 21

Your Kids Inherit Your Tax Problems Too

Purpose of Wealth Podcast

About the episode

When you think about big life events for your family wealth and business, where does tax rate on the list?

It might not be at the top, but it needs to be up there. If not, there’s the risk of losing a big chunk of family capital, and potentially making the kids and grandkids grumpy.

In this episode, host Narelle Hooper chats with Mutual Trust’s George Psarrakos, who has advised some of Australia’s wealthiest families and businesses, foreign subsidiaries, and international investors on their tax and accounting decisions. George is a Tax Partner at Mutual Trust who leads the Tax Advisory function, and sits on the ATO’s Private Stewardship Group.

He’s also just released a white paper that lists nine things smart families should be thinking about when it comes to making tax-aware decisions for the future.

Learn about them here as Narelle and George discuss important aspects of family tax that will help your family stay ahead.

Featuring

Narelle Hooper - Host

During more than 25 years as a business and finance journalist and editor Narelle has worked for Australia’s leading media groups including the ABC, Fairfax Media and SBS TV. She’s a former Editor of the Australian Financial Review’s BOSS Magazine and was founding co-chair of the Financial Review’s Women of Influence Awards.

Narelle is also a member of the board of the The Ethics Centre. She has held a number of non executive director roles over the past decade, including with the Tasmanian Development Board, the Documentary Australia Foundation and with women's entrepreneurship accelerator SBE Australia, which runs the Springboard Enterprises program.

George Psarrakos

For over 20 years, George has worked with Australia’s most successful and iconic private businesses, families and international investors, helping them achieve what matters most.

This includes advice on liquidity events, tax disputes, real estate transactions, collective investments, high-growth ventures, financing transactions, cross border planning and intergenerational wealth transitions.

George has a particular focus on helping clients build stakeholder value through strategic planning, financial management and governance.

As the leader of Mutual Trust’s pre-eminent tax advisory group, George has also helped deliver projects in excess of $10 billion. Prior to Mutual Trust, George worked with international accounting firms specialising in privately held enterprises and subsidiaries of foreign companies.

George holds a Bachelor of Science/Bachelor of Commerce and a Master of Taxation. He is a Chartered Accountant and a Chartered Tax Advisor.
George currently sits on the ATO’s Private Stewardship Group which provides strategic input on the current and emerging tax issues affecting Privately Owned Wealthy Groups