Family succession traps

There are complex tax rules when dealing with company shares. Practitioners should be aware of the relevant legislation and if unsure, seek specialist advice.

By - 4 min read

Happy 40th! Not quite the surprise you were hoping for

Stamp duty on shares was abolished some time ago, but don’t forget about landholder duty.

By - 4 min read

Dealing with deceased estates: Gifts and tax implications

When dealing with deceased estates, practitioners should be mindful of capital gains tax implications when dealing with gifts.

By - 4 min read

A ‘tail’ of woe

When considering whether rural land qualifies for the Primary Production Land tax exemption, practitioners should consider the ‘dominant’ use of the land.

By and - 4 min read

GST considerations: Don’t always run with the sheep

Solicitors should be aware when ‘GST free supply of farmland’ is applicable and whether the purchaser intends to ‘carry on a business’.

By and - 4 min read

The devil is in the dating: A collection of cautionary tales

Dates are tricky and it’s important for practitioners to be aware of cut-off dates. If in doubt, discuss the issue with the accountant.

By - 3 min read

CGT considerations: When a beneficiary exercises an option under the will

Where a will contains an option, practitioners should be aware of possible capital gains tax implications and advise their clients accordingly.

By and - 3 min read

Double trouble: Companies and double tax stings

Acquiring property under a company name may attract tax implications and it is prudent to advise clients to seek advice from an accountant first.

By - 3 min read

The danger in changing trustees

Be very careful in preparing a deed to remove or appoint an additional trustee.

By and - 3 min read

Awakening the sleeping giant: FIRB obligations and testamentary gifts to foreign beneficiaries

Changes to the Foreign Investment Review regime have important implications for testamentary gifts to foreign persons and the administration of deceased estates.

By - 7 min read