Tax Stings
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...
Buying or selling: beware the sting of the GST
Charlie and Chloe are old clients – and now they’re back. Some years ago they bought their dream home with a large block of land they couldn’t afford to live in and had to rent it out until they...
Take care when amending the vesting date of a pre 84 deed
You’ve just come back to work after being on medical leave and are excited to receive a call from a longstanding client, Molly, who wants you to act for her regarding a purchase of an investment...
Tax stings and GST tales of woe
This article was published in this month's edition of the Law Society Journal of NSW. Three lawyers walk into a bar. Allan, Barry and Charlie. It’s Friday, they’re good mates, they’ve all had a bad...
Super fund property sale anguish
This article was published in this month's edition of the Law Society Journal of NSW. Your clients Betty and Bruce recently called to say that their self managed superannuation fund was selling a...
GST free supply of farmland
Your brother Harry and his wife Zoe contact you about arranging a contract for the sale of a 15 acre block. The block is part of their larger rural property on which they conduct a farming business....
GST stings
This article was published in this month's edition of the Law Society Journal of NSW. In the course of your busy conveyancing practice you come across many different situations. You are only too...