If you have a company then you have probably sat in a meeting with your accountant and heard the phrase ‘that may raise Division 7A issues’. Everyone usually then grumbles and nodes wisely, and moves on… But you may be asking yourself, ‘what the hell is Division 7A all about?’ Glad you asked.
Find out how our clients’ step mother extracted over $1m from their deceased father’s estate, leaving them with almost no inheritance – and how we fought to win it back.
Australians love their trusts. In fact, the number of active trusts in Australia is coming up to 1 million (if not there already). We use so many trusts because they are so versatile. But one problem most trusts have is that they don’t last forever, they have an ‘expiry date’. If you have a trust you should be aware of its ‘expiry date’, and if that date is fast approaching, you must plan for the end! Sometimes we find that a trust has already expired years ago, without anyone having noticed…
A few judges and populist politicians have recently made some snarly comments about lawyers and ‘greedy’ people who are challenging Wills. Apparently, as a profession, we are getting a bit of ahead of ourselves in bringing too many of these cases to court. Read this article to get informed about the debate.
The end of the first calendar quarter for the year is fast approaching, and this is a great time to think about improving your employment processes and procedures. To get you started, these are our favourite employment law ‘nuts and bolts’ that may need some tightening.
If you’re thinking of selling your business, we bet there are 2 key outcomes you are looking for:
1. Getting the highest purchase price possible; and
2. Being able to make a clean break from the business, so you can think about something else (and maybe even relax or take a holiday).
These outcomes are both realistic and achievable, but it will take some planning before you put the business up for sale.