Family succession traps
Snap Shot Complex tax rules apply to dealings with company shares. If a matter is not within your area of expertise seek specialist advice. You acted for the family when Celia’s parents, Tom and...
Changing Trustees and Landholder Duty Pain
Snap shot: Take care when preparing change of trustee documents. Consider the landholder duty provisions whenever shares in a company or units in a unit trust are being transferred in landholding...
Happy 40th – Not quite the surprise you were hoping for – landholder duty implications
You act for Sally and Steven who live in regional NSW and run a successful tyre shop. You have met with them many times over the years for business related matters and each time remind them that...
Dealing with Deceased Estates: Gifts and tax implications
You are dealing with the three children of the late Janice - Katey, Ken, and Kris, who are also the executors of her will. You prepared Janice's will before her death and are now sorting things out...
A “Tail” of Woe….
As you drive to work after what had been an unusually stress-free morning getting the kids out the door, your phone starts to ring. You see it is your client Fabio but you can’t really answer with...
Don’t Always Run With The Sheep
Barry and Judith have owned a large rural property since 1993. They come to you to discuss selling a 22 acre block on which they live. The block is part of their larger rural property of 1,000 acres...
The devil is in the dating
Land tax and foreign beneficiaries It’s getting on for Christmas and you’ve had a hell of a rush – people seem to think the world will come to the end on Christmas Eve. A month or so ago Mary asked...
CGT considerations: When a beneficiary exercises an option under the will
You settle on the couch with a glass of wine after a long and exhausting day. Your husband has been flat out harvesting and you didn’t realise just how useful he actually is around the house and...
Double Trouble: Companies and double tax stings
Snapshot: Acquiring assets through a company may attract various tax implications. Always advise the client to talk to an accountant before buying property in the name of a company. Your farmer...
The danger in changing trustees
Will and Kate are an elderly couple you have been working with for only a little over 12 months. You have done four jobs for them already, and so thrilled when Will calls you again in the space of 2...