Probate – Is it always required?

The answer is no, not always. Much will depend on the nature and extent of the deceased’s assets. Where Probate has not been obtained, the estate is regarded as being administered ‘informally’. This may occur where organisations (such as banks) release funds and other...

ATO and Phoenix Activity

Both the Australian Securities & Investments Commission (“ASIC”) and the Australian Taxation Office (“ATO”) regularly investigate “Phoenix Transactions”. What is phoenix activity? Illegal phoenix activity refers to activities that involve the intentional transfer...

Employment Law – What you need to know

Termination Termination of employment occurs when an employee’s contract of employment with an employer comes to an end. This can happen because of dismissal, resignation or redundancy. What is unfair dismissal? An employee is considered unfairly dismissed if the Fair...

Identity Theft – How to Protect Yourself

Identity theft is a type of fraud that usually involves stealing money or obtaining other benefits by pretending to be someone else. Identity theft can occur in a number of ways – from someone using your name to open bank accounts, take out loans, make purchases or...

The New $20,000 Depreciation Rules

New laws have passed regarding depreciation that allow small businesses to claim an immediate deduction for assets they start to use – or have installed ready for use – provided each depreciable asset costs less than $20,000. This will temporarily replace the previous...