The ATO has just audited my new client’s Div 7A agreement. It did not go well. Many Div 7A Loan agreements are not ‘commercial’ and therefore not valid based on 4 common drafting errors: The Div 7A Loan must be signed as a ‘Deed’ not as an ‘agreement’....
The government does not want to stop your ex-employees from working in their chosen trade or profession. Irrespective of what you put in your Employment Contract: a financial planner can continue to be a financial planner: see Entello v Firooztash [2016] QDC 50) an...
QUESTION: I am building an Employment Contract for my employee. She’s been with me for 6-years (hence the anxiety). I notice there’s no reference to the Award provisions under which she is employed. Does your Employment Contract override the Award provisions? Should...
Q: Why put a termination clause in your Employment Contract: Brett, you strongly recommend termination clauses. We approached the website that normally prepares our Employment Contracts. They don’t use termination notices. I asked them why. They said they were...
What is a Bare Trust? Firstly, what is a ‘trust’? Trusts became fashionable when King Henry VIII was on the throne. So much so that he attempted to reduce their tax benefits – without success. Here is an example of a ‘trust’. When your son is born you open a bank...
To better understand this article you may wish to first: watch the free Family Trust training course read the latest upgrade requirements to Family Trust Deeds over 5 years old read how to do succession planning in a Family Trust (showing the importance of the...