Tax ruling on family companies and family law

A very important draft taxation ruling issued last week. Up to now, the ATO has been acknowledging that a payment by a family company to a family member under a Family Court order is tax free. If the draft ruling becomes final that will no longer be the...

Risks of company guarantees

Farming clients Charlotte and George have had a terrible year with persistent rain during the harvest period resulting in a complete crop failure. Because of the crop failure, they were unable to meet their latest interest payment to the bank. Charlotte and...

What you should know about the effect of marriage and divorce on your Will

What happens to a Will upon Marriage Unless your will specifically says it was made in contemplation of marriage, when you do marry your existing will is automatically revoked. If your will is revoked and you fail to make a new one after marriage, all your...

Property ownership: joint tenants or tenants in common

When property is purchased with one or more other persons, a decision needs to be made whether to own the property as joint tenants or tenants in common. Joint tenants Joint tenants means that: • You own the property in equal shares • If one owner dies, then...

The importance of a power of attorney

Your husband Robert suffered a stroke three weeks ago and is in hospital. The doctors tell you that Robert is suffering from memory loss. His prognosis is not good and several weeks later Robert becomes extremely ill. The doctors tell you Robert has lost...

Tax ruling on family companies and family law

Risks of company guarantees

What you should know about the effect of marriage and divorce on your Will

Property ownership: joint tenants or tenants in common

The importance of a power of attorney

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