PRUDENCE – Sagacity. Wisdom. Protection.

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 & […]

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 […]

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 […]

Employers can claim a tax deduction for airport lounge membership annual fees The ATO's Taxation Determination TD 2016/15 dated 27 July 2016, confirms that employers can claim a tax deduction (under s 8-1 Income Tax Assessment Act 1997) for airport lounge membership annual fees. This is for their employees. What about if the lounge membership […]

ATO issues ruling on tax deductible gifts: Taxation Determination TD 2016/14 It is good news. The Determination, dated 27 July 2016, confirms what Legal Consolidated Barristers & Solicitors has stated for a long time. An accountant or financial planner is entitled to a deduction under s 8-1 Income Tax Assessment Act 1997. This […]