Areas of Law

13 12, 2019

Why you need a succession plan for your SMSF

2019-12-13T14:04:10+09:30

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

Why you need a succession plan for your SMSF2019-12-13T14:04:10+09:30
27 11, 2019

Avoid Surcharge Land Tax in NSW – Exclude Foreign Beneficiaries from Your Discretionary Trust

2019-12-05T08:16:30+09:30

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.

Avoid Surcharge Land Tax in NSW – Exclude Foreign Beneficiaries from Your Discretionary Trust2019-12-05T08:16:30+09:30
27 11, 2019

Surcharge Land Tax and Discretionary Trusts in NSW

2019-12-05T18:07:33+09:30

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 [...]

Surcharge Land Tax and Discretionary Trusts in NSW2019-12-05T18:07:33+09:30
22 11, 2019

Our answers to your top 5 questions about Private Ancillary Funds

2019-11-22T07:45:18+09:30

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.

Our answers to your top 5 questions about Private Ancillary Funds2019-11-22T07:45:18+09:30
14 11, 2019

Mind the gap: private child support agreements and how they can work for you

2019-11-14T09:16:03+09:30

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.

Mind the gap: private child support agreements and how they can work for you2019-11-14T09:16:03+09:30
24 10, 2019

I’m an executor, what do I do?

2019-10-28T09:38:39+09:30

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.

I’m an executor, what do I do?2019-10-28T09:38:39+09:30
10 10, 2019

Beware: You could be personally liable for underpaying staff

2019-10-11T12:40:01+09:30

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.

Beware: You could be personally liable for underpaying staff2019-10-11T12:40:01+09:30
20 08, 2019

Careful what you say about the future – misleading representations

2019-09-17T08:07:11+09:30

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.

Careful what you say about the future – misleading representations2019-09-17T08:07:11+09:30
20 08, 2019

Sharpcan Case Update – Revenue expenditure or capital expenditure?

2019-08-22T08:44:57+09:30

Our opinion about the Sharpcan case (Commissioner of Taxation v Sharpcan Pty Ltd [2018] 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).

Sharpcan Case Update – Revenue expenditure or capital expenditure?2019-08-22T08:44:57+09:30
7 08, 2019

Hey founder, are you being left behind?

2019-09-17T08:07:17+09:30

Founding a company is a lot easier than retaining control of it. Part of your journey will necessarily involve other people. First, it may be a co-founder. Then family and friend investors, and ultimately professional investors. During this evolution, the chances of you being left behind, and things getting out of control, increase exponentially. We’ll help you get back in control, with a binding entitlement to what you’re worth.

Hey founder, are you being left behind?2019-09-17T08:07:17+09:30
4 07, 2019

Modern employment awards – are you a risky business?

2019-09-24T18:40:27+09:30

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.

Modern employment awards – are you a risky business?2019-09-24T18:40:27+09:30
13 06, 2019

Supportive and empathetic, providing timely advice and guidance

2019-06-13T17:15:04+09:30

Andreyev Lawyers - supportive and empathetic. This was a difficult process but Andreyev Lawyers provided timely advice and guidance and I was confident that they were doing their upmost.

Supportive and empathetic, providing timely advice and guidance2019-06-13T17:15:04+09:30
18 04, 2019

When should directors be personally liable for tax debts?

2019-09-17T08:07:57+09:30

As a general rule, a company provides its shareholders with ‘limited liability’. This means that the extent of resources a shareholder risks when they invest in an enterprise is limited to the amount of capital they put into the company (or agree to put in). If the company runs out of resources, or gets hit with a nasty surprise, the capital may all be lost, but the shareholders are not obliged to put anything additional in. They have just ‘done their doe’.The limitation of liability for shareholders has not really changed much over the centuries that limited liability companies have been around. What has changed, is the role and responsibility of directors.

When should directors be personally liable for tax debts?2019-09-17T08:07:57+09:30
5 04, 2019

2019 Budget Impact Summary: Surplus to requirements?

2019-04-05T11:26:05+09:30

As a general rule, Budgets try to please as many people as possible, and upset as few as possible.  This strategy is even more important for a Budget in an election year - when short-term memories are still likely to be working on polling day.

2019 Budget Impact Summary: Surplus to requirements?2019-04-05T11:26:05+09:30