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New South Wales Government Shared Equity Scheme
Home ownership is a goal of many, if not most, Australians. Unfortunately, this ambition remains perpetually out of reach for a significant number of people. With an average home in New South Wales now costing more than a million dollars, families with two average...
CGT considerations: When a beneficiary exercises an option under the will
You settle on the couch with a glass of wine after a long and exhausting day. Your husband has been flat out harvesting and you didn’t realise just how useful he actually is around the house and with the kids. You’re buggered and behind on your work as you had to...
Options to renew in commercial leases – don’t get caught out!
An option clause is a term in a commercial lease that allows a tenant to renew their lease at the end of the original lease period if they meet certain conditions. Landlords are not obliged to offer a renewal option. However, it is usually in the interests of both...
First Home Buyers Choice NSW – stamp duty v land tax
For most people, buying their first home is a huge challenge, both financially and personally. With the cost of the “average” home in New South Wales exceeding a million dollars, saving a 20% deposit is itself a substantial undertaking, usually requiring years of...
Elder abuse
It’s hard to imagine that somebody would harm, intimidate or take advantage of an aged and vulnerable person. Unfortunately, however, elder abuse occurs within our society and sadly, the perpetrators are often those entrusted with caring for our older generation....
Double Trouble: Companies and double tax stings
Snapshot: Acquiring assets through a company may attract various tax implications. Always advise the client to talk to an accountant before buying property in the name of a company. Your farmer client Fred comes see you. He’s had a couple of very successful years and...
Growing your business – understanding equipment leases
If you are starting or expanding a business, you would be aware that equipment can represent a large cost. Although in an ideal world, you would be able to meet that cost outright, the reality is that you may not have the capital to meet the costs of all the equipment...
Do-It-Yourself business contracts – what could go wrong?
Contracts are fundamental to the operations of a business and set out the reciprocal promises made between parties to a commercial transaction. It is virtually impossible to do business without some type of a business contract. Over time, your business needs are...
‘Click here’ – electronic execution of documents is here to stay
The COVID-19 pandemic not only brought with it changes to how we live our lives, but also clarified the validity of some increasingly common business processes. One of those innovations relates to the way in which documents may be executed by companies. Prior to March...
The danger in changing trustees
Will and Kate are an elderly couple you have been working with for only a little over 12 months. You have done four jobs for them already, and so thrilled when Will calls you again in the space of 2 weeks to say he wanted to discuss his new business idea. Will tells...