An ‘Ancillary Fund’ is a special type of trust that can be used to collect and distribute donations for charitable purposes. The Fund can be set up through a trust deed while you are alive, or through your Will. Importantly, the Fund does not undertake charitable work itself, but can be used as a collection point to pool donations and then distribute them to charities and causes, as decided by the trustees.
The Fair Work Ombudsman has won its first case against an accountant being ‘knowingly involved’ in the workplace breaches of his client. The accountant could now face up to $357,000 in penalties, as though he committed the breaches himself. Find out what you can do to avoid this problem.
When asked what structure to use, we like to apply several key principles and ‘rules of thumb’ to get the right answer.
As most people now know, from 1 July 2017 the amount a super fund member can have in a pension account will be capped at $1.6 million. There has been a lot of general commentary on these changes, but little deeper analysis of the details.
Deciding to purchase property with another person is likely to be one of the most significant financial decision you may make in your lifetime.
Unfortunately, things do not always go to plan and it may be the case that one of you wants ‘out’.
What is the ESS ‘start-up’ concession and how do you qualify for it?
How do you calculate the extent of any ‘discount’ when an interest under an employee share scheme is granted to an employee?