News

Contractual obligations in the wake of COVID-19

The coronavirus (COVID-19) presents numerous challenges for individuals and businesses, amongst them, the legal rights and responsibilities under existing contracts during a pandemic such as this. Parties to a contract that are facing difficulties in meeting...

Making your Will count – Healthy Will Checklist

It is important for everyone over 18 to have a Will to make sure their wishes are followed and their assets are distributed as they would want after they die. If you don’t have a Will your assets will be divided according to how the law dictates in the rules...

Watch out for farms

Your good client and friend Fergus rings and asks you to act for him on a sale. Fergus is a solo accountant and a bit of a wheeler and dealer. You do a fair bit of work for him. He says that he has a farm down south that has been doing pretty well but he has...

SMSF – Non-bank LRBA – 30 June deadline

It is strongly recommended that non-bank SMSF limited recourse borrowing arrangements (“LRBAs”) be reviewed to ensure compliance with the safe harbour guidelines published by the ATO last week (see PCG 2016/5). Income generated from a non-bank...

Transferring Dutiable Land – Order of Operations

You act for Robert who is the executor of his late wife Maggie’s estate, along with Maggie’s three children. Robert brings in the original will which was prepared by another solicitor in 1998.You are surprised when reviewing the will that Robert was not left...

SMSF Deeds

It is strongly advised that SMSF Deeds are reviewed before 1 July 2017 and updated where necessary. We are pleased to advise JMA Legal has reviewed and amended its SMSF Deed to satisfy the upcoming Federal legislative changes. In particular our deed allows...

Take Care if you Declare

It is first thing on Tuesday morning when you receive a call from your client Lachlan who wants you to review an auction contract for a farm that has come up for sale next to his. The auction is scheduled for that afternoon so Lachlan, as he always does, has...