Accountants

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03/08/2018

What happens if the SMSF Trustee can’t legally own the asset?

A Trustee of Self-Managed Superannuation Fund is obliged to have all SMSF assets in its own name. For example, the Nasution SMSF Fund owns a farm in […]
19/05/2018

Family Court v’s Child Loan Agreement.

Family Court v’s Child Loan Agreement Does your Loan Agreement stand the test? Rowntree v FCT [2018] FCA 182 states that only a legally prepared Loan Agreement completely […]
27/03/2018

ATO says ‘loans’ from company were not loans

ATO successfully penalises professional for no Loan Agreement Rowntree v FCT [2018] FCA 182 shows that only a legally prepared Loan Agreement satisfies the ATO for related-party loans. In […]
17/02/2018

Can Family Trusts override the Family Court?

Family Trust v’s Family Court As a tax lawyer, I structure clients’ affairs to legally reduce tax burdens. I am also asked to: consider asset protection […]
07/05/2017

Accountant disrupts $3b debt collecting industry

Now the Adviser and Accountant does debt collecting Many businesses don’t have the time and resources to recover debts. Often they are too hard to collect. […]
01/04/2017

Top 8 legal documents Accountants build at end of financial year

8 documents Accountants build at end of financial year I have sold over 16,000 Self-Managed Super Funds and 18,000 Family Trust Deeds online. Surprisingly, however, these […]
31/03/2017

Travel costs to visit Accountant & Adviser tax deductible – says ATO TD 2017/8

When are costs of travel for a tax return deductible? This ATO Tax Determination TD 2017/8 was issued 29 March 2017. When you visit your accountant or financial […]
17/11/2016

Can you abandon a gift in a Will to keep the pension?

Can you abandon a gift in a Will to keep the pension? The Financial Planner carefully structures Mary’s affairs. Mary receives a $1 pension and Concession […]
15/11/2016

SMSF Commercial Lease fails ATO scrutiny

SMSF Commercial Lease fails ATO scrutiny An accountant shows me a non-complying self-managed super fund. It owns commercial property. Its blemish? It does not have a […]
14/10/2016

Accountants acting in clients ‘best interests’ – new rules

Tax agents have to act in the client’s ‘best interests’: s 30-10  TASA But what does that mean? What about a ‘conflict of interest’? Can you break the […]
14/10/2016

Reserves in a SMSF – How to complete annual return

&nbsp The wealth in a superannuation fund belongs to a member. You can’t have money in a superannuation fund not earmarked for a person. An exception […]
08/09/2016

Key person insurance – protecting the business

Key person insurance – ‘income’ or ‘capital’ purpose? Businesses without strong leadership and direction are ships sailing without the captain at the helm. Death, Trauma and […]
11/08/2016

Go bankrupt lose Super? Bankrupt widow keeps Super

Go bankrupt lose Super? Bankrupt lose Super. But isn’t Superannuation protected from bankrupcty? The 3 common safe havens to protect assets from insolvency are: ‘Clean skin’ […]
09/05/2016

Build Codicil online to Remove Public Trustee from your Will

Remove Public Trustee but keep the ‘free’ Will – build Codicil online   A nice person, from the government, gave me a ‘free’ Will Did the […]
18/04/2016

Asset Protection strategies

Asset protection Business owners – whether small or large – and professionals face constant exposure to lawsuits and insolvency. Professional Indemnity insurance companies often wiggle out […]
18/04/2016

The most tax effective Business Structures

Business Structures: Family Trusts Trusts for Business Be careful in which “vehicle” you buy or build a business or asset. You can run your business as […]
18/04/2016

Business Succession Planning Manual

Business Succession Planning – Buy/Sell Agreements The importance of Business Succession Planning: there are approximately 2 million small businesses in Australia. Many such businesses operate with more […]
18/04/2016

Estate Planning Manual – avoid the 4 Australian Death Taxes

Every year, Australian taxpayers voluntarily pay the Tax Office millions of dollars in “Death Taxes”. Are you going to be one of them? Proper Estate Planning […]