PRUDENCE – Sagacity. Wisdom. Protection.

PRUDENCE – Sagacity. Wisdom. Protection.

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31/08/2016

Which is safer for a company: Constitution or Replacement Rules?

Company Constitution vs Replaceable Rules? Which is better. Either can govern your company. Your company must have a set of rules. The rules are either in: a Constitution – document that you get when you build your Company; or failing that Replacement Rules – which are set out in the […]
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26/08/2016

Can you offer ‘free’ SMSF setup? ASIC attacks SMSF promotor

&nbsp ASIC attacks SMSF promotor, but is it fair? Good old ASIC has successfully applied a penalty on a business seeking to set up your SMSF for ‘free’ – but then charging you $1,100 per year. The ASIC $10,800 slap on the arm is because the advertising of ‘free’ potentially misleads […]
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26/08/2016

The ‘Curse’ of the homemade Will

The ‘Curse’ of the homemade Will “On numerous occasions when dealing with a so-called homemade Will, I have observed they are a curse. A homemade Will which utilises what is sometimes known as a ‘Will kit’ is not much better. This case proves the point….” Master Sanderson, Rogers v Rogers […]
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16/08/2016

SMSF Unit Trust buys a necklace for wife – now what?

.  SMSF Unit Trust buys a necklace for wife – now what? SMSF Unit Trust. Do you operate a Unit Trust where your Self-Managed Superannuation Fund owns some or all the units? If so you have a ‘related unit trust’. A related unit trust is an SMSF unit trust. An SMSF […]
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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’ Family Trusts (eg, doesn’t employ people) Low-risk spouse (eg. spouse is a school teacher) Superannuation With huge wealth moving into Super the Trustee-in-Bankruptcy has its […]
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11/08/2016

Introduction for Dr Brett Davies’ presentation

Introductory note for Dr Brett Davies’ presentation ——————————————————————————————————————— Adjunct Professor, Dr Brett Davies Adjunct Professor, Dr Brett Davies is the tax partner of the national practice Legal Consolidated Barristers & Solicitors. They are Australia’s only law firm providing legal documents online. Brett is Adjunct Professor at the Curtin Business & […]
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07/08/2016

SMSF Borrowings. ATO Safe Harbour & Mortgages

We prepare SMSF borrowing gearing documents complying with the ATO ‘safe harbour’ SMSF borrowing is common. We provide documents for SMSF borrowing where the:   1. Lender is the Bank 2. Lender is a related party 3. existing SMSF loan is being updated 1. Lender is the Bank SMSF borrowing where an Australian […]
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01/08/2016

When can trustees keep secrets from beneficiaries?

A warning to accountants, financial planners and lawyers Trustee confidentiality is a major issue in all our practices. This is a warning to all accountants, financial planners and lawyers that take on the onerous responsibilities of holding a Trustee position for clients we have Felicity Blades v Richard Isaac & Christopher Alexander. It is […]
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