After deciding that a company suits your requirements as the entity through which to operate your business, follow these steps to get your company up and running.
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So far Melinda has created 98 blog entries.
When people go into business together it’s common for them to enter into a Shareholders’ Agreements to govern how they will own and administer their company. Our preference is to use a tailored version of the company’s ‘Constitution’ as the primary instrument to regulate the affairs of a company. Our reasons are:
A common frustration experienced by primary producers is that they cannot use their super savings in their business. Not being able to access your retirement savings until you are 60 (generally) and retired, can feel like you are diverting capital away from where it is needed. One way around this issue is to own farmland in your Self-Managed Super Fund (SMSF).
You need an SMSF Deed that keeps pace with legislative and common law changes. A lot of the sophisticated strategies are only possible if your SMSF Deed is up-to-date and written carefully.
The trustee of your SMSF is all-powerful. The trustee decides how much money you can put in the fund, who else can join, how your money is invested, how much gets paid out to you and when, and finally who gets what’s left over when you die. So how do you ensure the trustee of your fund continues to do the right thing when you can no longer be involved? There are a number of strategies you need to have in place
If you hold residential land in NSW in a discretionary trust, chances are you will be subject to surcharge land tax due to changes that take effect at midnight on 31 December 2019. We can help you avoid the surcharge.
Does your discretionary trust hold residential land in NSW? If so, 31 December 2019 is an important date for you. The State Revenue Legislation Further Amendment Bill 2019 was introduced to the NSW Parliament on 22 October 2019. Once law, the effect of the new legislation is to deem a discretionary trust a foreign [...]
Are you protecting your employee’s personal information? If not, you may be breaching your obligations under the Privacy Act 1988.
Do you want to be more strategic in your charitable giving, make a real impact on the community and create a lasting legacy as part of your family’s story? Private Ancillary Funds (PAFs) can be a great option to achieve these goals. To help you decided whether PAF is right for you, we’ve pulled together our answers to 5 questions we are frequently asked by those considering establishing a PAF.
If you are separating from your spouse, and assuming the primary role of looking after your kids, then one of the most important issues you need to understand is how child support works. At its most basic level, the purpose of child support is to protect your kids from the economic impact of your separation. There are both advantages and disadvantages to private child support agreements, depending on your circumstances and what you hope to achieve by entering into one.
Disputes involving executors of deceased estates are increasing. Usually, a trusted family member or friend appointed as an executor is just trying to do the right thing by their loved one. So, what are they doing wrong? Read on to find out how you must perform your duties as an executor.
Given the increasing heat being placed on directors and business owners, it's important for you to understand the legal requirements and put in place compliance systems so that employees are being paid their legal wages and entitlements.
It’s not unusual to make a decision to enter into an agreement, based on a statement or promise by the other party about what the future will hold. Then when that promise doesn’t hold or ring true, you could find yourself out of pocket.
Our opinion about the Sharpcan case (Commissioner of Taxation v Sharpcan Pty Ltd  FCAFC 163), being a Federal Court case from late 2018 (a copy of the full judgment can be found here: https://www.ato.gov.au/law/view/pdf/misc-case/rdr_2018fcafc163.pdf).
Picture this: You are a small business owner. After getting through the first five years of trade, you are starting to see returns on the time, emotion and finances that you have invested into the business. Then a document comes in the mail and your fortune turns on its head. You are faced with a claim by a former employee and you realise your business is faced with an unexpected liability worth thousands of dollars. All due to a clause nested in a Modern Award that you had simply overlooked or misunderstood. Here’s how to avoid becoming that business.