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Transferring half of your WA family home to a spouse

Transferring half of your WA family home to a spouse Under the Western Australian Duties Act 2008 section 97 you may be eligible to transfer half of your home from yourself to your spouse. You then each end up owning the home 50/50. What do you have to do? It […]

How to remove dead Trustees from your SMSF

Removing Trustee and Members from your SMSF There is a good reason in wanting to share your SMSF with others such as your spouse, children, in-laws and business partners. After all, they are expensive to operate and to have the cost divided by 4 people makes it cheaper. However, the […]

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 Public Trustee make your spouse and children the Executors? Did they then quietly slip in the “Public Trustee” as an Executor as well? As […]

Five simple Asset Protection strategies

Asset protection Business owners, doctors, farmers and professionals face constant exposure to lawsuits and insolvency. Professional Indemnity insurance companies often wiggle out of not paying. You bet the house on a successful outcome with every client who comes in the door. Like professionals with insurance, anyone who owns rental or […]

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 a sole trader, partnership or through a company via a Family Trust or Unit Trust or a combination of the above. You may buy […]

Business Succession Planning Manual

Business Succession Planning The importance of Business Succession Planning: there are approximately 2 million small businesses in Australia. Many such businesses operate with more than one owner who together may manage the small business. An owner may die or suffer from a disability and be unable to continue to work in the business. […]

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 ensures that your estate goes to those you care about, and not the Tax Man. Does the “Simple Will” protect your family? Many people […]

Drafting Div 7A Loans – ATO’s 4 concerns

The ATO has just audited my new client’s Div 7A agreement. It did not go well. Many Div 7A Loan agreements are not ‘commercial’ and therefore not valid based on 4 common drafting errors: The Div 7A Loan must be signed as a ‘Deed’ not as an ‘agreement’. ‘Agreements’ require […]