Why your initial choice of entity is so important
It all began when Fred saw you about buying the farm next door. His existing farm was held by a family company set up years ago. Fred wanted to buy the new farm in the family company to keep things...
Foreign trusts and duty – it’s just not cricket…
You lay back in your hammock and take in the glittering ocean and warm, white sand. You are on a husband and kid-free holiday with your sister and have seven days of relaxation ahead of you. You are...
Advising on the purchase of land? Beware the sting of GST withholding
You are acting for Charlie and Chloe, new clients who left their former solicitor because, they say, he ‘stuffed up badly about GST’ on previous transactions. Chloe is clearly the spokesperson. Now...
A Broken Marriage and a Hefty Tax Bill
You’ve been acting for your sister Ana in relation to the breakdown of her marriage to Chris. Ana has been cheating on Chris pretty much since they were married. You suspect Chris knew about it...
Marriage Breakdown Problems
This article was published in this month's edition of the Law Society Journal of NSW. You are acting for Jeremy in relation to the breakdown of his marriage with Chloe. Jeremy tells you that he and...
Not a Good Option
You’ve acted for an old friend Shirley for a very long time. You are aware that she has two sons, Bob and Barry and a daughter Billy whom you have never met or know much about. Bob had a horse...
PIC a horse, any horse
Did you know that anyone who keeps horses in NSW is required to obtain a Property Identification Code (“PIC”) for the land on which the horses are kept? The requirement to have a PIC has been around...
Beware of Isolated Transactions
Your ex-partner, Antonio, contacts you late Wednesday afternoon asking you to act for him in relation to selling a shop down the main street of the small coastal town you live in. You are thrilled...
Options and Hidden Tax Stings
Snapshot Options are always tricky. What applies to GST does not necessarily apply to CGT. Assumptions can be very dangerous. Options and hidden tax stings Tony comes to see you about a 'too good...
Succession planning and hidden tax stings
You knew it was professionally unwise, but you just couldn't say no to your old mate Peter when he asked you to help fix up his family succession plan. You tried to explain, but when he said...