Peter and Patricia have instructed you to prepare their wills. Peter and Patricia own where they live and also two commercial properties, each worth about $3 million and subject to a mortgage of  $2.5 million.  They have a share portfolio, which they started...

Snapshot When an interest held in a private company/unit trust increases and the private/company unit trust owns the land, consider whether the land holder duty is payable Where the land holder duty is payable, also consider whether the private company/unit...

Takeaway points Always be aware of the terms of Trust deeds. Always communicate with your client’s accountant when property is sold Beware that problems that can arise at the end of the financial year. Fred is a third generation local farmer for whom...

Snapshot: check the zoning details on the contract; if land is not zoned rural land there are additional ‘commercial’ tests to determine whether the dominant use is primary production; just because the previous owner had a land tax exemption doesn’t mean you...

Snap Shot Complex tax rules apply to dealings with company shares. If a matter is not within your area of expertise seek specialist advice. You acted for the family when Celia’s parents, Tom and Mary, brought her into the family business by making her a...

Snap shot: Take care when preparing change of trustee documents. Consider the landholder duty provisions whenever shares in a company or units in a unit trust are being transferred in landholding entities. You are sitting in your office tucking into a quick...