Does your Trust Deed get the best tax outcome?
The specific terms of your trust deed can mean you will either save or lose money in income taxes. It is important your deed is up to date and gives the trustee all the powers it needs to optimise the trust’s tax position.
Do your Trust Minutes avoid the ‘tax trap’?
The main thing to remember is that trusts can only ever distribute trust law income, as it is defined in the trust deed.
When do you need to have your trust distributions minutes prepared by??
It’s almost 30 June. Have you done your trust distribution minutes?
What are your rights when your de facto partner dies (in SA)?
Do you have the same rights as people who are married? For example, to share in your partner’s estate, challenge their Will, get damages for wrongful death, claim super benefits, etc? The short answer is, yes, but…
What happens to my business in a divorce?
So you own a business and are embarking on divorce! Not a great combination… Find out what issues you are likely to face, and how you can develop an effective strategy to keep it all together.
Setting up a company in Australia
After deciding that a company suits your requirements as the entity through which to operate your business, follow these steps to get your company up and running.
Company Constitutions v Shareholders’ Agreements
When people go into business together it’s common for them to enter into a Shareholders’ Agreements to govern how they will own and administer their company. Our preference is to use a tailored version of the company’s ‘Constitution’ as the primary instrument to regulate the affairs of a company. Our reasons are:
Should you own your farmland in Super?
A common frustration experienced by primary producers is that they cannot use their super savings in their business. Not being able to access your retirement savings until you are 60 (generally) and retired, can feel like you are diverting capital away from where it is needed. One way around this issue is to own farmland in your Self-Managed Super Fund (SMSF).
Why you need to update your SMSF Deed
You need an SMSF Deed that keeps pace with legislative and common law changes. A lot of the sophisticated strategies are only possible if your SMSF Deed is up-to-date and written carefully.