Getting your affairs in order – what is an appointment of Enduring Guardian
An Enduring Guardian is the person you appoint to make personal, health or lifestyle decisions on your behalf should you lose the capacity to make them for yourself. When you appoint an Enduring Guardian, you choose the decision-making powers your Enduring Guardian will have. For example, you can authorise your Enduring Guardian to decide where […]
Christmas Party Survival Guide for Employers: how to plan effectively and reduce vicarious liability
With the silly season among us and the celebrations commencing in full force, employers must not lose sight of their responsibilities to their employees and potential risks that can arise with end of year festivities. Before the party A few simple steps can be taken before your party that will automatically reduce the likelihood of […]
Planning ahead – What is a Power of Attorney?
A Power of Attorney is a document you can sign to appoint another person (your attorney) to act for you in relation to financial affairs. The document says what the attorney is authorised to do, and this can be as narrow and specific, or as general, as you wish. Any lawful action taken by the […]
Bad Advice and Willful Blindness – Personal Liability for Third Party Advisors
Accountants, payroll providers and HR consultants liable for Client’s Wages Underpayment. We found out last year that a HR manager was personally liable for unlawful employee salary deductions made by the company: see the link to the OzStaff case below. This year, an accountant was found personally liable for its client’s underpayment of its employees. […]
High Income Threshold and Compensation Cap for Unfair Dismissal Applications – 1 July 2017
Employers should be alert to changes to worker entitlements effective 1 July 2017: Unfair Dismissal High Income Threshold Compensation Cap for Unfair Dismissal Redundancy Tax Free Amount Employment Termination Payments (ETP) Lower Tax Rate Cap Superannuation Maximum Contribution Base Increases in Civil Penalties for Breaches of the Fair Work Act Unfair Dismissal High Income Threshold […]
Tax Efficient or Efficiently Taxed? The Hidden Questions that Show We Might Be Too Trusting in Trusts
When establishing a testamentary trust or seeking estate planning guidance, the goal is to conserve and grow assets. Specifically, we want an instrument that will provide the flexibility to distribute assets and income to our dependants and to capitalise on tax benefits after death. But are trusts always suitable? The recent decision of Soo v […]
Invest Now or Cry Later: Stamp Duty Discounts for Investors abolished in Victoria
Investors looking to diversify into the Victorian property market should note that existing concessions for stamp duty relief for off the plan purchases will be abolished from 1 July 2017. The Victorian Government announced that stamp duty (land transfer duty) savings for investors buying property off the plan will not apply for investors for contracts […]
10 Times the Fines, 10 Times the Hassle: The Fair Work Amendment Bill 2017
Franchisors and Parent Companies Feeling Vulnerable to Super Fines The Fair Work Amendment (Protecting Vulnerable Workers) Bill 2017, is designed to protect vulnerable workers from exploitation by employers. The Bill is expected to pass through the Senate without much trouble. It is the Coalition’s response to the systematic underpayment of workers by franchisees in the […]
Collective Sale and Renewal
Apartment blocks are being unlocked for redevelopment – this presents opportunities, and challenges, for owners and developers alike! There is a shortage of housing, the Australian dollar is cheap and foreign buyers seem keen to buy our real estate. The NSW government has announced changes to strata laws to enable strata owners to redevelop their […]
Change of Trustee Concession Rules
When the trustee of your trust retires, or you appoint a new trustee, you usually only pay nominal stamp duty of $50. The Chief Commission of Stamp Duties looks at the transfer of property carefully to check that the transfer is not really giving someone new the benefit of the property. The old rules required […]