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Land Tax – concessions available

Land Tax is payable on the taxable value of all land situated in NSW and is charged on land as owned at midnight on the 31st December each year. Land Tax is payable by the owner of the land on all land owned by that owner in NSW which is not exempt. Joint owners of...

Definition of an Audit

Audit Noun: 1. an official examination and verification of accounts and records, especially of financial accounts. 2. a report or statement reflecting an audit; a final statement of account Verb: 1. To make an audit of; examine (accounts, records, etc) for purposes of...

Testamentary Capacity

When making a Will it is crucial that the Will maker has testamentary capacity to ensure that their Will is valid. The case of Bank v Goodfellow (1870) outlines the test to determine testamentary capacity, which is as follows: the Will maker understands they are...

Elder Law – Safeguarding the Elderly

Do you have any concerns about the overall care of  your elderly loved ones? Do you know of a person, who is the only person who has or holds  on behalf of your elderly loved one, Power of Attorney document (relates to financial decisions) and/or Enduring Guardianship...

Federal Budget Summary 2018-19

On 8 May 2018, the Treasurer, Scott Morrison, delivered his third Federal Budget. How does this budget affect you? $20,000 immediate write-off is extended The Government will extend the $20,000 immediate write-off for small business by a further 12 months to 30 June...

Stamp Duty consequences of Estate property transfers

Stamp Duty consequences It may be that your intentions under your Will are to provide your property to your beneficiaries or is it that you really intend to provide the value of the property to your beneficiaries. Your decision and directions in your Will may have...

Penalty Rate Changes: Casual employees

A casual employee engaged has no guaranteed hours of work, usually works irregular hours (but can work regular hours), does not get paid sick or annual leave and employment can be terminated without notice, unless notice is required by a registered agreement, award of...

SMSF’s investing in Bitcoin and other cryptocurrencies

Investing in Bitcoin and other cryptocurrencies Guidelines have recently been issued by the ATO with regards to SMSF’s investing in Bitcoin and other cryptocurrencies. Essentially, such investments are permitted where; The SMSF Trust Deed permits this type of...
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