New Taxes on Real Estate in Your Family Trust

New Taxes on Real Estate in Your Family Trust

Your new purchase or holding existing real estate in your family trust will attract new taxes under new law unless you amend your trust deed. Your family trust defines the class of beneficiaries broadly and includes any overseas beneficiaries. This means that under new law (section 104L of the Duties Act 1997 (NSW) and section 5A of the Land Tax…

Shareholder Agreements – What Are They And Do I Need One?

Shareholder Agreements – What Are They And Do I Need One?

A shareholder agreement is probably the last thing on your mind when you set up a company with your friends or members of your family. You may not take it into consideration because you can’t foresee anything going wrong and fear it could taint personal or professional relationships. However, setting up a shareholder agreement is a standard business practise and…

How Does Competition and Consumer Law Affect Me?

How Does Competition and Consumer Law Affect Me?

Competition and Consumer law is put in place to protect you, your organisation and end consumers from a number of untoward practices in the world of business. Whether you are a consumer or a business, the Competition and Consumer Act 2010 (“The Act”) is in place to protect you and your rights. There are a number of different ways in…

Divorce – The Considerations To Make

Divorce – The Considerations To Make

When marriages break down, it’s a very difficult time for everyone involved. Some people are not aware though of the requirements to file for a divorce - a number of criteria must be fulfilled to successfully file for a divorce. The failure to meet these criteria could potentially drag out the process and make it more uncomfortable for both partners…

What To Consider When Buying A Business

What To Consider When Buying A Business

A business could easily be one of the most expensive purchases of your life - especially if you get it wrong. Much like buying a house, before you commit to anything you should get the foundation and structure thoroughly checked over. However, much unlike a house, a business comes with so many more complications that if not properly assessed could…

Choosing The Right Structure For Your Business

Choosing The Right Structure For Your Business

When setting up a new business, one of the most important things to consider is not the name, but the legal structure. Whether you’ve been in business all your life or just getting started - professional advice on the best structure for your new business could be invaluable. You need to consider how many people are going to be a…

Deceased Estates – When Should I Review My Will?

Deceased Estates – When Should I Review My Will?

Many people are unsure as to when they should consult a professional lawyer to review their will after they have originally made it. The general rule is to review every two to three years or whenever a significant event in your life takes place. This will ensure the will is always current and valid to avoid any troublesome situations for…

What if I Die Without a Will?

What if I Die Without a Will?

Dying without a well drafted legally valid Will can leave your family members and loved ones in an uncomfortable and difficult situation to deal with your assets when you die. A Will is the only legal way to ensure that the people you care about benefit from your property and assets, (referred to as your “estate”) after you are gone.…