No. But you can gift the shares. Here is an example: Dad owns all the shares in BeachCo Pty Ltd. BeachCo owns the holiday home. Around the kitchen table, everyone calls it ‘Dad’s holiday home’. Dad pays the bills. Dad books the repairs. Dad tells the children when...
An Enduring Power of Attorney is a powerful economic document. It allows the people you appoint to manage your wealth. They step into your shoes. They open bank accounts. They sell real estate. But a common question arises. Do all your attorneys have to sign the...
What happens in your Will if a child dies before you? A mother had four children, but one had already died before her. Her Will said everything to my: ‘children as shall survive me’. Five words that cost the family a court case. The surviving grandchildren...
Why You Need a Power of Attorney in Every State You Own Assets Sun Tzu in The Art of War tells us that warfare is based on deception. Australian state governments play the exact same game. Australia consists of eight proud, separate jurisdictions. They have their own...
While the legislation tells us what the law is, the ATO’s internal manuals tell their auditors exactly how to enforce it. One of the most revealing documents for tax professionals is Practice Statement Law Administration PS LA 2011/8. It is the ATO’s internal rulebook...
