New profit centre for Accountants and Financial Advisers: Setting up a business structure

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11/09/2017

New profit centre for Accountants and Financial Advisers: Setting up a business structure

New profit centre for Accountants and Financial Advisers: Setting up a business structure This week is you setting up business structures for your clients. We have seen a 400% increase in Family Trusts and Unit Trusts being built on our website over the last 12 months. Baby boomers are refusing […]
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25/08/2017

New profit centre for Accountants and Financial Advisers: Estate Planning

  New profit centre for Accountants and Financial Advisers: Estate Planning I hope you enjoyed last week’s new area of practice: updating SMSF Deeds.  This week’s new profit centre is Estate Planning. Some people incorrectly believe that Estate Planning is about a lawyer making a Will. I have prepared an […]
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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 to your accountant? This ATO Tax Determination TD 2017/8 was issued 29 March 2017. When you visit your accountant or financial planner the cost of travelling is tax deductible. This is when you are having your tax return prepared by a ‘recognised […]
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25/03/2017

CGT on dead wife’s wedding ring. Specific gifts in Wills are bad. Equalisation clauses do not work.

Capital Gains Tax on dead people’s jewellery – CGT death duty on a wedding ring Sometimes people make a mistake. They put a Specific Gift in their Will. For example, ‘my wedding ring to my daughter’. The result? CGT death duty on that wedding ring. At death, your Will is […]
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29/10/2016

Taxing Crowdfunding – ATO catches up on a new concept

The ATO has formed a view on Taxing Crowdfunding. The revolution is upon us and the ATO is having a hard time keeping up. ‘Crowdfunding’ is financial support for a project or venture. The collection and promotion are via internet platforms, mail-order subscriptions, benefit events and other methods. Crowdfunding falls […]
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20/07/2016

Are Family Trusts replacing Self-Managed Super funds?

Are Family Trusts replacing Self-Managed Super funds? We are seeing a renewed interest from professionals for Family Trusts. Family Trusts built on our website have surged 38% in the last 12 weeks. Conversely, SMSFs have dropped by 23%. On speaking with professionals it appears that clients are losing confidence in […]
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20/07/2016

Charity v Son – Dad’s Will challenged

Charity v Son – Dad’s Will challenged Dead Zopito Di Cesare left everything to charity. His son, Ivano Ferrante last week filed a Supreme Court writ against the charities.  Usually, a son argues that he wasn’t getting enough out of his Dad’s Will and asks the court to rewrite the […]
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03/06/2016

Is one boy worth two girls?

Fatma is a loving and devout daughter to her mum. However, under her brother’s interpretation of Muslim law, one man is worth two women. Fatma’s brothers constructed a Will for their mum to sign whereby they got twice as much as their sister. The Supreme Court said that Mum was […]
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