Tax traps – beware the Division 7A snake pit

Division 7A of the Income Tax Assessment Act 1936 is a poisonous well of hissing snakes for general practitioners, writes JIM MAIN.Snapshot Companies are full…

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Handing down the family farm without NSW duties

Handing down the family farm without NSW duties – a guide to the new Revenue NSW Ruling.Snapshot The family farm often represents a farmer’s most…

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Timing is everything: End of financial year considerations

Some salutary lessons in end of financial year tax stings.Snapshot The end of the financial year always raises issues.  CGT issues are technical and difficult….

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Nobody knows everything: Taxes and the administration of deceased estates

Why it pays to get some help with taxes in the administration of deceased estates.Snapshot Always make it clear who should pay the tax. IT…

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What is a declaration of trust for stamp duty purposes?

NSW Court of Appeal delivers welcome clarity on the definition of a ‘declaration of trust’ for stamp duty purposes.Snapshot In the recent case of Benidorm,…

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GoFundMe: The gift that keeps on giving?

A closer look at the complex legal issues raised by crowdfunding platforms such as GoFundMe.Snapshot Billions of dollars are raised in crowdfunding campaigns around the…

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A matter of trust: Working together to avoid hidden tax stings

Stinging examples of why lawyers and accountants need to work together on trusts and succession.Snapshot Amending trust deeds is a difficult business. Seemingly simple transactions…

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NSW duty and land tax surcharges to impact discretionary trusts

Trustee of a discretionary trust owning NSW residential property? What you need to do before 31 Dec to receive an exemption & refund for foreign surcharges.Snapshot…

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Accountants vs lawyers?

Why it’s better to work together when it comes to succession planning & restructuring.Snapshot Accountants and lawyers need each other. Lawyers should always liaise with accountants…

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Deceased estates duty concession: a new Revenue NSW ruling

A practical guide to the new Revenue Ruling DUT 046 on the deceased estates duty concession.Snapshot On 12 February 2020, Revenue NSW issued Revenue Ruling…

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