When a delayed estate means tax stings await

You acted for Barry and Betty when they applied for probate of the will of their late mother Bertha. Barry is an investment banker and Betty a barrister – both with young children and both very busy. The will appointed Barry and Betty as executors and...

Your duties

You act for Tom who has been running a farming business since the early 1980’s, grazing sheep. Unfortunately for Tom his wife left him many years ago not long after their twins Gerrie and Matthew were born. Matthew and Gerrie both went to live with their...

Dangerous Trusts

Work has been a bit quiet, so you are pleased to receive a sales advice that your client, Percy, has agreed to buy an investment property for $2.5 million. Shortly afterwards, you receive a telephone call from Percy’s accountant, Penelope, who tells you that...

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...