Other Articles
Dealing with Deceased Estates: Gifts and tax implications
You are dealing with the three children of the late Janice - Katey, Ken, and Kris, who are also the executors of her will. You prepared Janice's will before her death and are now sorting things out in her estate. Husband John predeceased Janice some years ago. Katey,...
Joint Venture or Partnership? Understanding the difference
A joint venture involves two or more persons or entities joining together for a particular project. A partnership is described as a relationship which exists between people carrying on a business, with a common view of making a profit. It also includes incorporated...
Buying and selling a property at the same time
Buying or selling property is widely accepted as one of life’s major stress factors. When you buy and sell property at the same time and try to complete both transactions together this can add considerably to the stress levels. This is known as a simultaneous...
Common misconceptions about estate planning
An estate plan involves more than signing a Will and leaving it in a safe place. An effective estate plan requires consideration of several matters and ongoing review to ensure it reflects your testamentary wishes and covers unexpected events. In this article we look...
What happens when ASIC deregisters a company?
A company may be deregistered either voluntarily, liquidated or struck off the register of companies by the Australian Securities Investments Commission (ASIC). ASIC may deregister a company if the company has ceased trading or has overdue fees and penalties. If your...
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...
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....
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...