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
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
13 01, 2019

Four ways to challenge Director Penalty Notices

2019-02-01T07:24:37+09:30

The ATO is using Director Penalty Notices more often. However, the ATO officers are only human and they can make mistakes. There are four main ways in which your DPN may be challenged.

Four ways to challenge Director Penalty Notices2019-02-01T07:24:37+09:30
21 05, 2018

What is Division 7A really all about?

2019-09-17T08:15:03+09:30

If you have a company then you have probably sat in a meeting with your accountant and heard the phrase 'that may raise Division 7A issues'. Everyone usually then grumbles and nodes wisely, and moves on...  But you may be asking yourself, 'what the hell is Division 7A all about?' Glad you asked.

What is Division 7A really all about?2019-09-17T08:15:03+09:30
4 05, 2018

My trust is expiring – can I get an extension?

2019-09-17T08:17:19+09:30

We all love our trusts, but unfortunately they don't last forever. They have an ‘expiry date’.  When you reach this date, the Trust ends and its property must be distributed to beneficiaries. Before this time you need to consider who will be entitled to the assets, and what tax and stamp duty liabilities may be triggered. You also need to see if the date can be extended...

My trust is expiring – can I get an extension?2019-09-17T08:17:19+09:30
12 04, 2018

Transferring an asset from a super fund to a member – no stamp duty in SA

2018-08-28T09:06:23+09:30

In South Australia stamp duty is not payable on a transfer of real property from a trustee of a trust to a person who already has a defined beneficial interest in the property. For example, a transfer of property from the trustee of a unit trust to the unit holder. But there are a couple of tricks you need to be aware of.

Transferring an asset from a super fund to a member – no stamp duty in SA2018-08-28T09:06:23+09:30
23 03, 2018

Do you and your spouse have more than $1.6 million (in total) in super?

2018-03-23T15:28:55+09:30

Everyone gets a $1.6 million cap on the assets that can support a tax-free super pension. You and your spouse each get a separate cap. But super pensions that pass to you from your spouse when they die may put you over your cap. This will have adverse tax outcomes. You need to plan for this as part of your estate planning.

Do you and your spouse have more than $1.6 million (in total) in super?2018-03-23T15:28:55+09:30
23 03, 2018

Distributing assets from a family trust to a beneficiary – no stamp duty in SA

2018-03-28T05:54:33+09:30

In South Australia it is possible to transfer a property from a family trust to a beneficiary without stamp duty. Find out how.

Distributing assets from a family trust to a beneficiary – no stamp duty in SA2018-03-28T05:54:33+09:30
9 01, 2018

Why are company ‘tax cuts’ anti-Australian and next to useless?

2019-09-17T08:20:46+09:30

We are not advocates of higher taxes. But, we are advocates of honest tax policy. So read 'company tax cut' as essentially a reduction in Australian tax on foreign investment. Full stop.

Why are company ‘tax cuts’ anti-Australian and next to useless?2019-09-17T08:20:46+09:30
19 12, 2017

What is an unpaid present entitlement or ‘UPE’?

2019-09-17T08:20:55+09:30

If you have a discretionary family trust, then chances are your accountant has mentioned ‘unpaid present entitlements’ or ‘UPEs’. No doubt you have just nodded wisely, but deep down, do you really know what this means?

What is an unpaid present entitlement or ‘UPE’?2019-09-17T08:20:55+09:30
22 11, 2017

Are you about to pay off your SMSF ‘limited recourse borrowing’ loan?

2019-02-01T07:44:24+09:30

If you are about to pay off your limited recourse borrowing loan (or have recently done so), you are probably wondering what to do next. You might want to simplify your super fund investments and wind up the custodian trust. Or you might be planning your next property purchase. In this article, we answer [...]

Are you about to pay off your SMSF ‘limited recourse borrowing’ loan?2019-02-01T07:44:24+09:30