Take a look at the articles we have published so far:
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.
In this podcast Dr Rhonda Patrick interviews Dr Satchin Panda on 'biological clocks' and the circadian rhythm. This material has day-to-day application for all of us - how to sleep better, eat better and generally optimise things with nothing more than a better understanding of how important our body clocks are to our general overall health.
In this interview Kevin Rose talks with Robin Deeke, an FBI counterintelligence agent, who has written a book called the Code of Trust
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?
Most people who advise on testamentary trusts talk about the ‘tax benefits’. This emphasis is plain wrong. Why? Because, a simple Will (without a testamentary trust) is more likely to do harm, and to lead to family disharmony, than one with a testamentary trust.
A gift of property that is no longer in your estate when you die automatically ‘fails’ (or ‘adeems’). This rule can lead to unfairness and unintended consequences.
Doctors earn their money by ‘doing things’. Performing surgery, diagnosing an illness. This is great from a ‘personal fulfilment’ perspective, but not so great from a ‘personal tax’ perspective.
People who say this are just demonstrating their ignorance. Here’s why. The ability to use a trust as a ‘tax loophole’ was pretty much closed out in the 1970-80s. To suggest that trusts somehow make tax disappear for the ‘wealthy’ is plain silly.
Like any business, hotels have several moving ‘parts’ that need to work together so that the machine runs smoothly. If you are thinking of buying a hotel or similar hospitality business, make sure you are familiar with these unique features before you sign on the dotted line.
A key benefit of having your super in a SMSF is that you can choose who ultimately benefits from particular assets within your fund when you die.
We are often asked what rights an employer has to require their employees to undergo a medical assessment or provide their medical records. The answer is usually not straightforward, as there are some serious personal and privacy issues to consider. The question comes down to striking a balance.
Have you been approached by a telecommunications carrier that is interested in putting a tower or other structure on your land? How do you know if the deal you are being offered is fair?
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.
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’.
How do you calculate the extent of any 'discount' when an interest under an employee share scheme is granted to an employee?
How do you qualify to defer any tax otherwise payable on shares and options acquired under an employee share scheme? When does the deferral come to an end?
If you want to do charitable work or raise funds to help people living overseas, you should carefully consider your options to make sure your aid is targeted to where it's most needed.
There are over 700 laws that can impose personal liability on directors. While it is common for companies to provide directors with an 'indemnity' or 'insurance cover' for these liabilities, there are limitations and restrictions on how far this indemnity and cover can extend.
People are more aware – and wary – than ever of family law issues in relation to their assets. More and more couples seek binding financial agreements to protect their assets, or put off living together or marrying to minimise their financial exposure.
What is, and what is not, in your personal estate? This may sound like a academic question not worthy of a lot of thought. However, if you are in estate planning mode, it is critical that you answer this question correctly.
Most people realise the importance of protecting their Intellectual Property. But ‘ideas’ and ‘concepts’ aren't a form of IP, as there is no 'property' capable of being protected. Don't despair, there are ways to protect and exploit your interests.
Losing an employee, whether by dismissal or resignation, is never easy. But it’s even harder when the employee walks out the door with a head (and possibly a briefcase or USB) full of your confidential information.
One of the big benefits of being a not-for-profit organisation (NFP) is the availability of tax concessions. But are you making the most of the concessions available to your organisation?
We are commonly asked what's the best structure to use when setting up a new charity or other 'not-for-profit' (NFP) organisation. While incorporated associations and public companies limited by guarantee are often suitable, they are not the only options, and there is no easy 'one size fits all' answer.
Take-it or leave-it (or perhaps ‘void-it’)? Some things to consider in your Website Development Agreements
Website developers understand very clearly the notion of the ‘information architecture’ of a website, yet not all of them get it when it comes to the architecture of the service agreement they enter with their clients
Just because you and your partner make 'mirror Wills' does not mean that your partner cannot change their Will (either before or after you die). Furthermore, your partner does not have an obligation to inform you if they do change their Will. Find out how to deal with these issues.
You signed a contract, but things aren't working out. It happens. In this article we explore some ways you might be able to get yourself out of the deal.
So you've just come up with a great business concept, given it a test-drive among your family and friends, and now want to go to the next stage. What do you do? You need to put together the 'playing field' for your venture. In other words, you need a 'business structure'.
Your relationship is over, and you want out. But you aren’t sure what you need to organise before you leave. Hopefully this doesn't sound familiar - but if it does, we recommend you read-on... In this article we set out our 7 steps to leaving, which we hope will help you through this difficult transition. These steps will also help someone assisting a relative, friend or client through this process.
Your super doesn't form part of your estate, and is not subject to the terms of your Will. It's therefore critical to have in place appropriate arrangements to make sure your super ends up where you intend.
When you are separating for your spouse or partner, it's easy to get bogged down in negotiations about your kids and dividing up your property. But don't forget your estate planning - otherwise you may just end up leaving your former partner the biggest gift of them all.
When we hear the word 'company', we all think we know what the person is talking about. We deal with companies every day. Most of us work for a company, and we certainly buy things from them. But companies are actually a strange thing. Let's start with a bit of a history lesson.
Divorce is the legal process that formally ends a marriage. In practical terms, it is often the easiest part of a separation - but perhaps one of the more emotionally charged. Read on for a brief overview of the divorce procedure.
Is your commercial lease compliant with the PPSR regime? You need to know the answer to this question. Everyone has heard about the Personal Property Securities Register (PPSR), which came online on 30 January 2012. The implications of the new registration system are still not widely known. For many people the need for registration is only discovered after it is too late.
What would happen if you lost mental capacity or died? While your physical life may be well provided for, chances are your digital life is seriously at risk.
Well drafted 'pre-emption' clauses in a Shareholders Agreement or Constitution provide you with important protections. But there are a number of potential traps that you need to be aware of.
Unlike divorce, marriage separation does not have an effect on your Will. For this reason, the period of separation that occurs prior to divorce is possibly one of the most important times to ensure your Will reflects your changed circumstances.
In this article, we will discuss some of the critical clauses that are often missing from basic employment documents. We will cover what each critical clause does and why it is important, and the potential consequences of not including the clause in your employment documents.
When you are entrusted to deal with the estate of a deceased loved one, it can feel overwhelming. We are here to guide you through this time with compassion, clarity and certainty.
Our gift to you is our Work Communications Policy, which is designed to be a set of fundamental rules for an SME to adopt internally to ensure that the quality of its communications is regulated. Click on the link to download a copy of the Policy to adopt in your workplace today.
In Australia, there are 3 main types of employment contracts: permanent (full-time or part-time), casual, and fixed term (whether full-time or part-time). This article focuses on fixed term contracts.
The concept of a 'bucket company' is used to describe a company into which distributions from a discretionary trust are made to cap the tax rate on the trust's income to the flat company rate of 30%.
The short answer is that it depends on whether the trustee first falls within the class of potential beneficiaries, and then whether the trustee is specifically excluded from benefiting.
When you give an outright gift to someone under your Will, the beneficiary receives the gift from your executor, with no strings attached. The beneficiary can do what they like with it. If you impose any rules on the gift, then you have effectively created a 'testamentary trust', and things get a little more complicated.
Dealing with employees and their entitlements as part of a business sale or acquisition is not straight-forward. There are plenty of traps and tricks for the uninitiated. Find out what you need to know.
Do you have the right to determine who inherits your farm? The short answer is 'not necessarily', but there are things you can do to increase the chances of your wishes being upheld.
Sexual harassment can cost a business dearly in terms of lost productivity, staff turnover, recruitment costs, legal fees and court awarded damages. Two recent court cases have shown us that courts are now prepared to make increasingly large awards to compensate victims of sexual harassment. Here we give you the tools to identify sexual harassment in the workplace, and provide the steps you need to take to prevent it.
When you first read these clauses it isn’t always clear what they are trying to achieve, and why you would include them in your Shareholders Agreement (or Constitution).
Everyone is playing a winner-takes-all game – at your cost. Microsoft, Google and Apple are trying to own you, and keep you from being ‘part-owned’ by the other guys, and they have been playing this game for years.
Will all business owners be required to return profits from their businesses as personal services income if they are involved in the business? Will they be required to earn a ‘market wage” (whatever that is)?
Sometimes people look to their super fund as a means of funding life insurance for a business buy-sell arrangement. This is possible, but there are some tricks and traps to be aware of...
By now, everyone has heard about the Personal Property Securities Register (PPSR), which came online on 30 January 2012, (well, we hope so!). However, the implications of the new registration system are still not widely known.
LinkedIn and other social media networking sites have their uses, and can be good for ‘profile’ building. But the question is – can you afford to lose control of your business contacts and spend time building value for another business, the social media site?
A Special Disability Trust (SDT) is a special type of trust that allows parents and immediate family members to plan for current and future needs of a person with severe disability. The trust can pay for reasonable care, accommodation and other discretionary needs of the beneficiary during their lifetime.
Employers have long struggled with the balance between an employee’s responsibilities at work and their right to a life outside of work. This has often given rise to the question of whether an employer can discipline employees for recreational activities conducted outside of working hours.
Are you looking for someone to act as a local director in Australia? Andreyev Lawyers can assist you with all aspects of sourcing and appointing a professional nominee director for your Australian company.
Irrespective of why or how, raising money in Australia is a heavily regulated activity, with severe penalties for people who do not comply with the rules. There are rules for both the party raising the money and for people who assist them.
A clear and comprehensive social media policy is essential to set the guidelines of what you expect from your employees. Here are our top five tips for creating an effective social media policy for your SME business.
The sooner a Grant of Probate is obtained, the sooner assets can be distributed to beneficiaries, and so we work hard on the things that we can control to make the process smooth and hassle-free.
Are you looking to do your own grant of probate for a Will in South Australia? Get a head start by downloading our DIY Probate Kit (SA).
Significantly reduce the risk of unfair dismissal claims by following these 6 rules of effective employee management
Plan how you are going to terminate an employee when you first take them on. Reduce the risk of an unfair dismissal claim, and make an otherwise unpleasant experience that bit easier. We have spoken to many employers who wish they had planned more carefully from the outset.
This briefing note discusses your options for appointing a trustee for your self-managed super fund, and what happens if you lose mental capacity, die, or leave the country.
This article gives a practical overview of the processes involved in applying to the Fair Work Commission for unfair or unlawful dismissal. It is of equal value to someone thinking about making an application, or an employer who needs to respond to an application.
Most people understand the importance of making an Enduring Power of Attorney. If you are not able to make financial decisions for yourself, your Enduring Attorney can step into your shoes and keep things in order on your behalf. However, not all Enduring Powers of Attorney are created equal.
A post-employment restraint can help to protect a business from an ex-employee causing damage to a business. In this article we give tips on drafting effective post-employment restraints.
Whether you are buying or selling a business, the chances are that 'vendor funding' will play an important role in getting the deal done. This article discusses 5 issues that should be considered by a seller when using vendor finance in a business sale.
Quality employment contracts can provide you with a business performance boost, and minimise business downside risks. In this article we discuss some common traps in preparing employment contracts, and how to avoid them.
This VideoPost is a five part series on how to buy or sell a business. This VideoPost provides a mix of broad commercial principles, as well as some detail around the key legal issues you should be thinking about.
We continue our practical seminar series with a presentation about going into business with other people. Going into business with others can be one of the most rewarding things you do - whether they be family, friends or third parties. Sharing the highs and spreading the lows is much more fun. Ultimately this seminar is about preserving your relationships with your business partners.
This article describes recent changes to employment laws relating to family-friendly measures; workplace bullying; right of entry into workplaces by officials; genuine consultation regarding rosters/hours of work; protection of ‘penalty rates’; and adverse action powers.
I read recently that if your business model relies on 'restricted access to information', then in the internet age, you are as good as dead. We live in a time of almost complete democratisation of information - and this trend is only accelerating. The natural traits of empathy, humility and real interest are critical to being a good lawyer. Skills in active listening, industry knowledge and commercial experience are more important than ever.
Who wants to be a director? Not an easy question to answer these days, with over 700 laws that can make you personally liable for various actions (or inactions) of your company. This article provides some handy safeguards to consider before you agree to become a director.
If you’re like me you pour your life and soul into building your business. But when did you last stop and ask yourself, ‘What for?’ If, like me, being in control of your financial destiny is important to you, then it's important to make sure that the value of your business is protected if something unexpected happens.
I have been reading a series of books about what at first appeared to be unrelated topics. Neuroscience, talent (or the lack thereof), checklists, decision-making, and high performance teams. While not a common theme on the face of each book – an underlying principle in all of them is the importance of mistakes and errors.
Have you thought about what would happen to your company if you became incapacitated, or worse, if you died? Who would pay the bills, and enforce the company’s rights?
There will be times when an employee leaves your business and you find out later that several significant customers have followed them to their new employment or business. What can you, as a former employer, do in these situations?
Businesses often enter into ‘heads of agreement’, ‘letters of intent’, or a ‘memorandum of understanding’ in the course of negotiating a deal, often without input from a lawyer. So which of these are binding, and which aren’t?
Join us for breakfast on 10 April at 7.00am and hear about how to keep the wealth you are building in your business. For many SMEs the value you are building in your business represents your nest egg for retirement. The difficulty you face is that the place where you are building your wealth is also the place where you are exposed to the most risk. If you do not manage this conflict you risk throwing away the fruits of your hard work.
Estate planning basically involves working out what you have, deciding where you would like it to go, and then choosing people to make that happen. Here's 4 simple questions that you will need to answer to get things started.
We are commercial lawyers with a wealth of experience in tailoring foreign commercial contracts to ‘play nicely’ in Australia.
The effect of death on 'Child Support Agreements' and 'Binding Financial Agreements' can be a little complicated - but more importantly, can have unintended consequences for your Estate Planning.
The Personal Property Securities Act (the PPSA) celebrated its 1st birthday on 30 January 2013. However, the way the PPSA applies to internal business structures is frequently overlooked.
No matter what type of business you're in, it's important to protect yourself against the unexpected - what we refer to as the "Seven Dogs": Death, Disability, Divorce, Default, Departure, Disagreement and Deadlock.
Super nominations do not need to be as boring (and perhaps as inappropriate) as “I nominate my spouse to receive 100% of my super”. Set out below are 7 ways to get creative – and more effective - with your super nominations.
The question of who can “witness an affidavit” in South Australia comes up quite often, not only in the context of litigation, but also in relation to such things as witnessing an Enduring Power of Attorney.
Over the past couple of decades there has been a clear shift away from ‘traditional employment’, and towards people acting as independent contractors or ‘freelancing’. This has important impacts on both 'employees' and 'employers'.
What are my options for owning and managing property jointly? How can I avoid disputes with my co-owner?
Tenancy-in-common ownership gives each co-owner title to and control over a fixed interest in the property. This makes it a flexible and autonomous way to own property. But what happens when the co-owners don’t agree?
Hear Andrew Andreyev on ABC Radio 891 Drive-time in Adelaide discuss what are 'Binding Financial Agreements', when can they be used, what do they achieve, and when can they be challenged.
A ‘Binding Financial Agreement’ is a way for couples to put in writing what they would like to happen to their property if their relationship breaks down, or if their relationship has already broken down and can avoid costly disputes.
Hear Andrew Andreyev on ABC Radio 891 Drive-time in Adelaide discuss the concepts of 'probate' and 'letters of administration', and how your assets are dealt with generally after you die.
Hear Andrew Andreyev on ABC Radio 891 Drive-time in Adelaide discuss the things you need to think about when planning where your super will go when you die.
If you die with money left in super, there are a number of things you need to think about. Most importantly, who will get your super, and what tax will be payable?
When you stop talking, you've lost your customer. When you turn your back, you've lost her. Young Estée Lauder (born 1907, died 2004), was born to immigrant parents in the Corona, Queens section of New York City. She began experimenting as a child with skin treatments her uncle cooked up.
Hear Andrew Andreyev on ABC Radio 891 Drive-time in Adelaide discuss the pros and cons of buying property with family and friends.
More and more of us are turning to life insurance to provide for our loved ones in the event we unexpectedly die or suffer a debilitating condition. Here's some tricks & traps to look out for in making sure your life insurance delivers the protection to your family that you intended.
If you are like most Australians, more and more of your family wealth is ending up in Super. Read about the 6 key things you need to know to ensure you keep control of this important asset.
In New South Wales, both the Courts and Government have clearly indicated that a person can no longer get around Family Provision rules by moving assets outside their “Actual Estate”.
Are you going to be personally responsible for your company’s debts? We explain how to make sure you are protected.
The personal consequences of insolvency for directors continue to deepen. Set out in this article are some indicators of when you should be taking advice on your potential exposures.
If your customers are not paying your invoices on time this may indicate they are under financial stress – which should be of a concern. However, more often, it merely demonstrates a lack of respect. In either case, dealing with late payment excuses quickly and firmly is needed to set your relationship back on track.
If you have given someone a Power of Attorney, there may be many reasons why you might want to end or revoke it. This article gives you tips on how to effectively revoke a Power of Attorney.
Not all Trust Update Services are equal (or in some cases, even necessary...). Before you get your trust deed updated, make sure that it's necessary and that the changes will achieve what they need to.
There is a wealth of “free” legal information on the web, so why would you pay for legal advice? We provide five good reasons why consulting a lawyer upfront can save you money down the road.
You could be in a de facto relationship without even realising it – and, if so, your personal assets are at serious risk in the event that you and your de facto part ways.
Property is relatively easy to buy - and even easier to buy with a friend. But if you haven't planned for when things go wrong, the whole exercise can turn into an expensive debacle.
Your Power of Attorney is a legal document which appoints one or more persons to look after your financial affairs on your behalf while you are still alive. There are several different types of Powers of Attorney, and it is important that you get the right one.
It is similar to buying a car – up to a certain price, you get what you pay for. But getting your estate planning done correctly is a little more important than buying a car – you only die once. Here are some things to weigh up when considering your options.
A “Discretionary Trust” is a commonly used structure for holding investments and carrying on small to medium sized businesses. What are the advantages of using a Discretionary Trust?
Since the introduction of the ‘Notional Estate’ principle into the model succession law in NSW, some 'asset structures' are no longer effective to avoid assets being dragged into a squabble over a Will.
You spend most of your time working in your business. But how much time have you recently spent thinking about how to protect the wealth that you are building in your business, or how to realise and pass this wealth on?