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...