General | JMA Legal

COVID-19 – Business as (un)Usual

As the COVID-19 situation escalates, we have been working on ways to ensure we can still continue to meet all of our client’s legal needs during this difficult time. From recent reports, it appears the social distancing measures are slowing the spread of the...

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...

Nuts and Bolts of Land Tax Surcharge and Discretionary Trusts

What is the surcharge land tax? Commencing the 2017 land tax year (that is ownership of land at midnight, 31 December 2016) surcharge land tax applies to foreign persons including foreign corporations, trusts and government who own residential land in NSW....

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...

Transferring Dutiable Land – Order of Operations

You act for Robert who is the executor of his late wife Maggie’s estate, along with Maggie’s three children. Robert brings in the original will which was prepared by another solicitor in 1998.You are surprised when reviewing the will that Robert was not left...

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