What is a Reverse Mortgage?

A reverse mortgage allows individuals to borrow money using the equity in their home as security. The loan can be given as a lump sum, a line of credit or a regular income stream. However, this type of loan is aimed at retirees. This type of mortgage is not new,...

What is the value of a parking spot?

There is no definitive answer to this question, however these days it would not be out of the ordinary to say a couple of hundred thousand dollars, if the space is in a prime location in Sydney. Some of the highest prices paid for a car space include: Elizabeth Bay...

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...