SMSF member overseas or of unsound mind? Fail Central Management & Control? Lose nearly half of your superanuation.
POAs and SMSFs To operate a complying SMSF you must usually: 1. live in Australia; and 2. be of sound mind. 1. Leave Australia: Your Self-Managed Superannuation Fund must satisfy a number of residency tests. One of those tests is that ‘central management and...Life estates are bad and not tax-friendly. Rights to reside are worse.
‘Life Estates’ do not work. Life estates in Wills are bad for tax. A ‘Right to reside’ is no better. A Life Estate (including under a Will) is an asset with two owners: Life Tenant – this person has the exclusive right to live and make a...Memorandum & Articles of Association are dangerous
Company Constitution Replacement $445 includes GST Replace your old Memo & Articles of Association with a Constitution Start for free Checklist Memo & Articles of Association Australian companies created before 1 July 1998 had a ‘Memorandum &...How to Build a Div 7A when the borrower is a Family Trust
Need a Division 7A when the Family Trust lends money to a bucket company? You distribute Family Trust income to your children and spouse. As much as you can. But you run out of family members on a low marginal tax rates. The Family Trust then distributes the...Can a beneficiary disclaim or renounce their entitlement to Family Trust income?
Can a beneficiary disclaim or renounce their family trust entitlement? Each financial year your Family Trust gets an income. It may be from passively renting out property. It may be from operating your business. Someone has to pay tax on that income. Every year you...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...Can you call your boss a ‘pig’ on Facebook? Unfair dismissal?
Stephen Campbell v Qube Ports [2017] FWC 1211 Stephen Campbell is a wharfie. His job is driving a big crane. He called his boss a ‘pig’ on Facebook. He also damaged a ship. It was not enough to sack him. He claimed unfair dismissal. According to the Fair Work...How to build legal documents online:
- • Press the START FOR FREE button to see if the document is suitable for you.
- • Answer the questions. Read the hints. Educate and Empower yourself.
- • Telephone us to review your answers.
- • Select LOCK AND BUILD and enter your credit card details.
- • Within seconds, you get our cover letter and finished document.
- • See free sample before you start building.
- • Law firm letter confirms we authored the document.
- • Retain legal professional privilege.
Advantages:
National: 1800 141 612 Sydney: 02 8000 9192 Melbourne: 03 9067 7797 Brisbane: 07 2111 0869 Perth: 08 6389 0100
lawyer@legalconsolidated.com.auadmin@legalconsolidated.com.au
Adj Professor, Dr Brett Davies
BJuris LLB BArts(Hons) LLM MBA SJD
D: 02 9071 7900
E: brett@legalconsolidated.com