Watch out for farms

Your good client and friend Fergus rings and asks you to act for him on a sale. Fergus is a solo accountant and a bit of a wheeler and dealer. You do a fair bit of work for him. He says that he has a farm down south that has been doing pretty well but he has...

SMSF – Non-bank LRBA – 30 June deadline

It is strongly recommended that non-bank SMSF limited recourse borrowing arrangements (“LRBAs”) be reviewed to ensure compliance with the safe harbour guidelines published by the ATO last week (see PCG 2016/5). Income generated from a non-bank...

Marriage and divorce – don’t forget your will

It is not something necessarily at the top of our list when you are excitedly planning a wedding or sadly contemplating divorce, but it is very important that when you start or end a significant relationship that you review and, if necessary, update your...

Take Care if you Declare

It is first thing on Tuesday morning when you receive a call from your client Lachlan who wants you to review an auction contract for a farm that has come up for sale next to his. The auction is scheduled for that afternoon so Lachlan, as he always does, has...

SMSF Deeds

It is strongly advised that SMSF Deeds are reviewed before 1 July 2017 and updated where necessary. We are pleased to advise JMA Legal has reviewed and amended its SMSF Deed to satisfy the upcoming Federal legislative changes. In particular our deed allows...