Other Articles
Tenancy – being your own landlord
Bill is very excited; he has been thrifty and has now been able to purchase an investment property. The house is quite old but a very solid 3 bedroom double brick home in pretty good condition. In order to save costs, Bill has decided to look after the management of...
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 which...
One business deal, multiple contracts: GST and stamp duty stings
You are acting for Charlie on the purchase of a chocolate factory. Money is tight and Charlie has been watching all expenses including your fees and stamp duty. The building is owned by Freddo and the business by his family company. Charlie intends to buy the business...
SMSF’s and estate planning
Over the past 20 years or so, about $1.7 trillion has accumulated in superannuation funds across Australia. Only Denmark holds more per capita in super. As a result, superannuation is often an individual’s largest asset, often surpassing the family home. Self Managed...
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 and work....
Succession planning
Succession planning is the process of planning and documenting a client’s exit from a business when they either sell their interest, retire and transfer their interest to the next generation or cease to be involved in the business for other reasons such as illness or...
Family law tax peril
You’ve been out of university for a few years working in a business law firm that also does a bit of family law now and then. Because of your interest in family law, you’ve had quite a bit to do with it in those few years and love the challenge of helping people sort...
Where will your super end up after you die?
Compulsory superannuation commenced in the early 1990’s, introduced by the Keating government. From that time, employers had to pay super to employees. Tax concessions were attractive to allow any worker to also contribute to a super fund. Assets in super funds are...
Trusts
Trusts are widely used for asset protection, succession planning and tax planning but they can be a complex area of law and are often poorly understood. Trusts need to be considered in any estate planning process. Trusts are a separate legal entity and the wealth in a...
Market value and GST
It’s 6pm and everyone is tired and emotional after a heated and acrimonious mediation between brothers Patrick and George. They’re arguing over a price for George’s shares in the family company that owns the old family farm in which Patrick, your client, owns two...