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8 Strategies for Long Term Investment Properties

Buying long term investment properties is one of the most popular investment strategies for Australians, and has been for some time. A good investment can create ongoing cash flow, improve your wealth, bolster your assets and reward you with long term financial...

Who should be the Settlor of a Family Trust?

In the event that a trust is created by way of settlement, it is recommended that a settlor should be a person who is not related to any of the beneficiaries, due to the application of s 102 of the ITAA 1936. Section 102 specifies the circumstances in which the...

What is an Informal Will?

For a Will to be valid in New South Wales it must satisfy a number of formal requirements set out in legislation. However, a document may still be considered a person’s final Will even if it fails to comply with formal requirements (“informal will”). Section 8 of the...

Are they contractors or your employees?

It is important to correctly determine whether your worker is an employee or a contractor as different rules by different regulators apply to both. For example, the tax and superannuation obligations that are applicable to your worker are dependent on whether they are...

Who is Responsible – the Builder or the Owner?

From 15 January 2015 the definition of defects under the NSW Home Building Act has changed. The term “structural defect” has been replaced by the new term “major defect in residential building work.” This means that you are now accountable for any issues with any...

Things to do before June 30

The end of the financial year is fast approaching and there are a range of taxation issues that businesses have to consider. It is important that you are aware of these issues and get everything in order before 30 June 2015. ATO tax obligations Take care of any ATO...