Is my Australian Will valid for overseas assets?

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14/04/2019

Is my Australian Will valid for overseas assets?

We are forever travelling. I spent two years with my wife and son to complete my doctorate in tax and estate planning in England. Many of us have real estate, bank accounts and pension funds overseas. Does your Australian Will cover these assets? Legal Consolidated’s Wills (even the non-tax effective ones) […]
25/01/2019

Can you steal money using your parents’ Power of Attorney?

Why make an Enduring Power of Attorney? The person receiving your POA is the donee. The donee stands in your shoes. Whatever you can do, the donee can do. They can buy and sell property for you. They can operate your bank accounts. Obviously, there are limits. Your donee cannot […]
19/12/2018

Extra stamp duty when Family Trusts with foreigners buy Western Australian land

The Western Australia government follows other Australian States by starting a stamp duty surcharge on foreign persons. See the Duties Amendment (Additional Duty for Foreign Persons) Act 2018. The surcharge duty is on residential property purchased by ‘foreigners’. Commercial and aged care property are exempt. Foreigners acquiring residential property in […]
21/09/2018

Do all Casual Employees now get Annual Leave? Some casual workers, are not casual.

Do all Casual Employees now get Annual Leave? Just paying your employee as a casual is not enough. You need a complying Employment Contract. To see one have a look at the Sample above. Is your casual employee: casual or permanent? Your answer affects: 1. paid leave 2. notice of […]
11/09/2018

Pitfalls to Property Development in an SMSF and how to address them

Pitfalls to Property Development in an SMSF and how to address them You may be shocked to know there is no ban on property development in a self-managed super fund. In fact, engaging in property development through an SMSF can be a highly beneficial strategy. However, compliance with the superannuation […]
05/09/2018

Many binding death benefit nominations don’t work. But not for the reason thought. Narumon case

Build these SMSF documents online SMSF Deed – built over 18,000 times Special Purpose Company – to be trustee of SMSF Convert old Company into a Special Purpose Company – to be trustee of SMSF Binding Death Benefit Nomination – updates the SMSF Deed as well Investment Strategy – ATO audit friendly Product Disclosure […]
25/08/2018

You get 2-year period to sell a dead person’s home tax free – self assess for a further 12-months

ATO’s discretion to extend the 2-year period to sell a dead person’s home CGT relief from selling the main residence more than 2 years after death – Practical Compliance Guideline PCG 2019/5 When your parent’s die you have two years to sell their home. If you sell it within two years […]
09/08/2018

Is demanding a medical certificate in an employment contract legal?

Is demanding a medical certificate in an employment contract legal? Stephen Campbell is a wharfie crane driver. He took amphetamines and opiates. He came to work. His crane smashed into a ship. He forgot to report the damage. Strangely, the Fair Work Commission in Melbourne said Stephen couldn’t be fired. […]