What’s wrong with a Will Kit?
Think of a lawyer like a ‘Will Kit’ – but with arms and legs.
Will the SA Land Tax changes affect my parents’ pension?
We previously talked about how the SA land tax changes have had significant impacts on trusts (particularly discretionary trusts) that own land. Those changes meant that trusts saw a substantial increase in their land tax bill from 1 July 2020, unless they nominated...
How to pass on your farm
How does an older farmer exit farming, fund their retirement and keep the family happy? The average age of a farmer in Australia is 50 years old. If you are a farmer and haven’t yet thought about your retirement and succession plan, now is the time. Handing over...
How to look after your pets after you’re gone
If you want to make sure your ‘furbaby’ is looked after when you’re gone, we can advise you how to best achieve this in your estate planning.
Farm Leases – is a handshake good enough?
If you own or lease a farm, you have a valuable asset that you need to protect. The key document to make this happen is a well drafted ‘farm lease’.
What is ‘asset protection’?
‘Asset protection’ is the phrase given to strategies that seek to keep assets out of harm’s way. Want to know more about this strategy?
Leasing to a related entity – avoid the PPSR sting
If you hold equipment in one entity, and carry on your business in another, you may be thinking this is a great asset protection strategy. It is, but it is missing one critical part – registration of the arrangement on the PPSR.
Avoid Additional Stamp Duty in Victoria – Exclude Foreign Beneficiaries from Your Discretionary Trust
The Victorian State Revenue Office (SRO) has announced that from 1 March 2020 it has adopted a new approach in applying the ‘foreign purchaser additional duty’ (FPAD) provisions of the Duties Act 2000 (Vic) to discretionary trusts. Make sure you don’t get caught by this additional 8% of duty.
eSports: Are you thinking of entering the sponsorship game?
If you’ve been sponsoring sports teams and events as part of your marketing spend – maybe it’s time to move to warp speed, and consider eSports! The world is your virtual oyster.
Are you paying for your grandchildren’s school fees?
If you’re paying for your grandchildren’s education costs, then you’re not alone. But is this financial support a ‘gift’ or a ‘loan’ to your children? If this is left in any doubt, then bitter family disputes will arise. Take the time now to make sure the ground rules are clear.