New profit centre for Accountants and Financial Advisers: Estate Planning
Couples Estate Planning Bundle $1,122 includes GST Start for free Checklist Singles Estate Planning Bundle $726 includes GST Start for free Checklist New profit centre for Accountants and Financial Advisers: Estate Planning I hope you enjoyed last week’s...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...How to build legal documents online:
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