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 Jim Main - 4 min readThere are complex tax rules when dealing with company shares. Practitioners should be aware of the relevant legislation and if unsure, seek specialist advice.
By Jim Main - 4 min readStamp duty on shares was abolished some time ago, but don’t forget about landholder duty.
By Michaela Schmidt - 4 min readWhen dealing with deceased estates, practitioners should be mindful of capital gains tax implications when dealing with gifts.
By Jim Main - 4 min readWhen considering whether rural land qualifies for the Primary Production Land tax exemption, practitioners should consider the ‘dominant’ use of the land.
By Jim Main and Amanda Tully - 4 min readSolicitors should be aware when ‘GST free supply of farmland’ is applicable and whether the purchaser intends to ‘carry on a business’.
By Michaela Schmidt and Jim Main - 4 min readDates 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 Jim Main - 3 min readWhere a will contains an option, practitioners should be aware of possible capital gains tax implications and advise their clients accordingly.
By Amanda Tully and Jim Main - 3 min readAcquiring property under a company name may attract tax implications and it is prudent to advise clients to seek advice from an accountant first.
By Jim Main - 3 min readBe very careful in preparing a deed to remove or appoint an additional trustee.
By Michaela Schmidt and Jim Main - 3 min readChanges to the Foreign Investment Review regime have important implications for testamentary gifts to foreign persons and the administration of deceased estates.
By Jennifer Vuu - 7 min readBeware of trusts and hidden tax stings.
By Amanda Tully and Jim Main - 3 min readAlways follow testamentary options strictly in accordance with the will.
By Jim Main and Michaela Schmidt - 3 min readCan you trust a trust? Not always – there are many murky traps to catch the unaware.
By Jim Main - 3 min read