Separation woes

You are acting for Clive in relation to the breakdown of his marriage with Alice. Clive is a cosmetic dentist and has done very well financially. Alice has also been very successful running her interior design business. The breakup has not been harmonious....

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...

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...

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...

Present pain and future property

You do a lot of work with Samantha, a local accountant, so are not surprised when she calls to say she has a group of clients who are pooling their resources to buy a country property called ”Last Retreat” located not so far from the town in which you live...