There are complex tax rules when dealing with company shares. Practitioners should be aware of the relevant legislation and if unsure, seek specialist advice.
When considering whether rural land qualifies for the Primary Production Land tax exemption, practitioners should consider the ‘dominant’ use of the land.
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.
Where a will contains an option, practitioners should be aware of possible capital gains tax implications and advise their clients accordingly.
Be very careful in preparing a deed to remove or appoint an additional trustee.
Changes to the Foreign Investment Review regime have important implications for testamentary gifts to foreign persons and the administration of deceased estates.
Beware of trusts and hidden tax stings.
Always follow testamentary options strictly in accordance with the will.
Can you trust a trust? Not always – there are many murky traps to catch the unaware.
NSW Court of Appeal delivers welcome clarity on the definition of a ‘declaration of trust’ for stamp duty purposes.
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.