Replace Australian Lost Company Constitution

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Replace Australian Lost Company Constitution

Replace a lost Company Constitution on law firm website Lost your company constitution? Build a replacement company constitution on our law firm’s website. You get: law firm letter  – confirms the law firm authored the replacement of the lost company constitution member minutes new constitution to replace the lost Constitution […]

Can a POA act for a trustee?

  Can a Trustee delegate its authority? Can a POA act on the trustee’s behalf? A human Trustee can not outsource the job of being a trustee to another person. Even if that other human holds a Power of Attorney for the Trustee. The position is different for a company. […]

Bankruptcy Trust in Wills

  Bankruptcy Trust in Wills Put a Bankruptcy Trust in your Will to protect your spouse, children and beneficiaries. The Bankruptcy Trust protects your beneficiaries if they go bankrupt before or after your death. When you die you give your assets to your spouse and children. But what if your […]

Financial Planners witnessing POAs prepared by Legal Consolidated

The Statutory Regulations 2018 (Cth) allows financial planners and advisers to witness Commonwealth statutory declarations. This has been the case since 18 September 2018. This means that financial planners are in the group of ‘authorised witnesses’. This is long overdue and I applaud the FPA and many other groups, including […]

A warning to accountants. Chadbourne v FCT.

A warning to accountants Commonly Dad borrows money cheaper than his trust. In this recent case, Dad borrows money from the CBA and gives it to his trust. Everything goes wrong. In Chadbourne v FCT [2020] AATA 2441: the taxpayer, Mr Chadbourne, borrows money from CBA he on-lends the money to […]

NSW Stamp duty to change a Trustee

Change a trust’s trustee to a corporate trustee in New South Wales? At times, you may wish to change the trustee of your New South Wales trust. Perhaps the trustee dies, leaves the country or loses mental capacity. Or you want to move from a human to a company as […]

Centrelink attacks innocent Grandparents

A rather worrying trend is Centrelink attacking people that are unaware that they are mentioned in a Family Trust. For example, the high risk son often makes Mum the Appointor or a Default beneficiary – for asset protection. Mum has never seen a cent of the Family Trust but the […]

Four things your Accountant should do differently this EoFY

  It is important to talk with your Accountant before the end of the financial year and work through your tax year-end planning issues before 30 June. Thanks to COVID-19 it is not just the usual year-end issues such as bad debts, trading stock, losses, super and the $150k immediate […]