Conditional Contracts and CGT

In 2013, your farming clients Thomas and Olivia entered into a conditional contract to sell their farming property just outside of Queanbeyan to a development company for $5.5m (“Contract”). They acquired the property in 1999 for $1m and were very happy with...

Periodic lease – a lease that never ends

One of the expenses involved in transferring business real property to a SMSF is to ensure a lease is in place for market value rent. SMSF leases are usually for a term of between 1 and 3 years and often include an option to review. Leases therefore have to...

Rain is wonderful, but here come the weeds….

With recent rainfall, weeds may be starting to find their way onto your block. The general definition of weed is a wild plant, growing where it isn’t wanted. However, noxious weeds can be more of a problem than just competing with your seedlings! Under the...

Will making and hidden tax stings

Andrew made me promise, Sheila tells you, that we would always treat the children equally. Yes, you reply, poor old Andrew, how long since he died? Ten long years, Sheila replies, and oh my goodness! How things have changed since then! Do you know, she goes...

Tenancy – being your own landlord

Bill is very excited; he has been thrifty and has now been able to purchase an investment property. The house is quite old but a very solid 3 bedroom double brick home in pretty good condition. In order to save costs, Bill has decided to look after the...

The pain of company guarantees

Your farming clients Paul and Mary have suffered an extended drought and are unable to meet their latest bank interest payment. They have come to you for advice. Their trading entity (which owes the money) is a discretionary trust with a corporate trustee of...

Conditional Contracts and CGT

Periodic lease – a lease that never ends

Rain is wonderful, but here come the weeds….

Will making and hidden tax stings

Tenancy – being your own landlord

The pain of company guarantees

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