New profit centre for Accountants and Financial Advisers: Setting up a business structure

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11/09/2017

New profit centre for Accountants and Financial Advisers: Setting up a business structure

New profit centre for Accountants and Financial Advisers: Setting up a business structure This week is you setting up business structures for your clients. We have seen a 400% increase in Family Trusts and Unit Trusts being built on our website over the last 12 months. Baby boomers are refusing […]
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25/08/2017

New profit centre for Accountants and Financial Advisers: Estate Planning

  New profit centre for Accountants and Financial Advisers: Estate Planning I hope you enjoyed last week’s new area of practice: updating SMSF Deeds.  This week’s new profit centre is Estate Planning. Some people incorrectly believe that Estate Planning is about a lawyer making a Will. I have prepared an […]
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05/08/2017

Influencer Marketing for Accountants and Financial Planners

Why Accountants & Advisers need Peer Index/Peer Influence Peer index and Peer influence are two related but slightly different things. A Crowd Tap report: The Power of Peer Influence highlights that “Influencer marketing is one of the hottest topics in marketing today”. Legal Consolidated enables Accountants & Financial Planners’ voices to […]
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30/06/2017

SMSF member overseas or of unsound mind? 47% tax penalty. POA to the rescue?

POAs and SMSFs To operate a complying SMSF you must: 1. live in Australia; and2. be of sound mind. 1. Leave Australia: Your Self-Managed Superannuation Fund must satisfy the 3 residency tests. One of those tests is that ‘central management and control’ of the SMSF remains in Australia. However, the […]
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29/06/2017

Life estates are bad and not tax-friendly. Rights to reside are worse.

‘Life Estates’ don’t 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 profit out of the […]
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30/05/2017

Transitional rules to reset the cost base of assets that support pensions and TRIS in SMSFs using the proportionate method

Transitional rules to reset the cost base of assets that support pensions and TRIS in SMSFs using the proportionate method   But firstly, what is a “TRIS”? Many of my students in my Superannuation unit that I teach as an Adjunct Professor note ‘it is hard to get money into […]
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19/05/2017

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 […]
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02/05/2017

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 […]
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