Trusts

Trusts are widely used for asset protection, succession planning and tax planning but they can be a complex area of law and are often poorly understood. Trusts need to be considered in any estate planning process. Trusts are a separate legal entity and the...

Market value and GST

It’s 6pm and everyone is tired and emotional after a heated and acrimonious mediation between brothers Patrick and George. They’re arguing over a price for George’s shares in the family company that owns the old family farm in which Patrick, your client,...

The steps required to buy a residential property

The steps in buying a residential property are: 1. You must confirm your finances in writing before you start looking to buy. Your lender should be able to give you a letter indicating the amount the lender will lend you when you purchase subject to...

Proposed changes to the Duties Act

A bill has recently been introduced to Parliament (State Revenue Legislation Further Amendment Bill 2014 [2014]) that proposes a number of changes to the Duties Act 1997. If passed, amendments to section 62A are of note regarding property transfers to SMSF....

Risky risks management

Risky Risk Management Greg and Chloe come to see you about reorganising their business affairs. Chloe is about to become the director of a private equity company and is concerned about her personal liability. Various issues are discussed and various...

Trusts and UPE’s

Unpaid Present Entitlements owed by a Trust to a corporate beneficiary can be taxed in the hands of the Trust pursuant to Division 7A if the UPE arose after 16 December 2009 and has not been paid out. That is, if the Trust and corporate beneficiary form part...

Trusts

Market value and GST

The steps required to buy a residential property

Proposed changes to the Duties Act

Risky risks management

Trusts and UPE’s

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