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Stamp Duty when Transfer property from Unit Trust to SMSF?

Stamp Duty when Transfer property from Unit Trust to SMSF? What happens when you transfer your property from your Unit Trust to your Self-Managed Superannuation Fund? Surely there is no stamp duty. After all, it is just you transferring the property from you to another you? Sadly, the Court said […]

Accountant disrupts $3b debt collecting industry

Now the Adviser and Accountant does debt collecting Many businesses don’t have the time and resources to recover debts. Often they are too hard to collect. As accountants well know, over $3b of debt is written off every financial year in Australia. The debt collection industry is under the clutches […]

Memorandum & Articles of Association are dangerous

Memo & Articles of Association Australian companies created before 1 July 1998 had a ‘Memorandum & Articles of Association’ (Memo & Articles). Since then all newly incorporated companies should have a Constitution. Both Memo & Articles and Constitutions guide directors on how the company conducts itself. Four common faults in […]

Commission contractor vs employee

Commission contractor vs employee – ATO  makes the correct decision The ATO accepts that a commission only salesperson is NOT an employee. Instead, they are independent contractors. But you need evidence of this. In the Commission contractor vs employee debate, it comes down to what is in your Independent Contractors Agreement. […]

How to Build a Div 7A when the borrower is a Family Trust

Why do I need a Div 7A when the borrower is a Family Trust? A Division 7A Loan protects loans from your company to a shareholder or ‘associate’. Your Family Trust is an ‘associate’. Your Family Trust must have its own Div 7A Deed. This is how to build a […]

Can a beneficiary disclaim their entitlement to Family Trust income?

Build Family Trust Distribution Statement online Price Family Trust – Distribution Statement 2016/2017 $22 Family Trust – Distribution Statement 2015/2016 $33 Family Trust – Distribution Statement 2014/2015 $44 Family Trust – Distribution Statement 2013/2014 $44 Can a beneficiary disclaim their entitlement? Each financial year your Family Trust gets an income. […]

Added risks if Financial Planners operate out of a company? Consider ASIC v Cassimatis (Storm Financial)

Financial Planners operate out of a company. But is it wise? Directors make mistakes. ASIC punishes them. Fair enough. However, the court goes further when Financial Planners operate out of a company structure. Because Storm Financial held an Australian Financial Services (AFS) license it suffered twice. This is an alarming attack. […]

Does your SMSF allow election to treat pension as lump sum? ATO is trying to stop you

Treat pension as lump sum? ATO says yes, but only if Deed allows it Treat pension as lump sum? The ATO has reluctantly confirmed that a Self-Managed Superannuation Fund’s exempt pension income is reduced when an election is made. This is to treat a pension payment as a lump sum. […]