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What are Director Penalty Notices? Director Penalty Notices (DPNs) are formal notices issued by the ATO to company directors who they believe have not complied with their obligations to remit either: These notices make directors personally liable for certain unpaid debts of a company. This means that if the company fails to meet these tax obligations, the ATO can recover…
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What is a Bucket Company? The concept of a bucket company is one that can be beneficial for business owners who are looking to protect their profits and minimise the amount of tax they pay. This strategy involves setting up a corporate beneficiary, also known as a ‘bucket company’ or ‘dump company’, to receive distributions from a trust of any…
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This case shows that it is important to review all prior SMSF deeds to make sure they contain only the absolutely necessary clauses to avoid sticky situations.
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After his death, a dispute arose, surrounding whether Mr Munro’s nomination for a BDBN had to comply with reg 6.17A of the Superannuation Industry (Supervision) Regulations 1994 (Cth).
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This case should teach that a trustee of a SMSF has enormous power over the benefits once the principle trustee has passed away.
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The matter was on appeal from the supreme court regarding whether the Trustee was bound by the BDBN which she contended that it had not been properly given to the trustee in accordance with the Deed.
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Trusts developed in feudal England as a legal mechanism for protecting assets and financial planning.
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Unlike many taxes which are generally passive in nature, the New Land Tax provisions allow you to make a number of active choices including nominating a designated beneficiary of a Discretionary Trust, Notifying the Commissioner (or not) of Unit Holders of a unit trust, or choosing who will be the director of a land owning company.
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So, you an employed physiotherapist who travels with the South Australian Men’s and Mixed Netball Championships to the Gold Coast for a week. You didn’t get paid but you did pay for food, travel, and tubs full of that magical cream that gets really hot when you rub it on things… are all these expenses deductible?
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You may be aware that the Premier of South Australia, Steven Marshall, spoke on the interception of rapid antigen tests by, allegedly, the Commonwealth Government and the Governments of New South Wales and Victoria. If this is true then it indicates an intriguing issue of the legality of compulsory procurement.
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If your letter of demand or Final Notice fails to obtain payment, you can commence court action. Firstly, consider which court to issue the legal action from.
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Debt recovery in South Australia is basically a three-step process. Your customer may pay at any stage during the process.
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Have you ever visited a provider of goods with cash and have them refuse to take it stating, “we only take payWave,”? Well I have visited several bars in Adelaide and had this happen to me. It spurred me onto investigating whether a provider of goods can legally refuse cash as the customer’s legal tender.
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Calderbank v Calderbank Calderbank v Calderbank [1975] 3 All ER 333 (EWCA) was a decision of the English Court of Appeal that has had a significant impact on Australian Law; this decision is the origin of the term ‘Calderbank Offer.’ But before we go through what a ‘Calderbank Offer’ actually is, let’s take a look at the case itself: Mr…
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Your business could be at risk for defamation action if comments left on your Facebook page or Instagram are defamatory, yes even if you didn’t know they were there. Since a recent High Court judgment, now you not only have to comply with all your other legal obligations as a small business, your Social Media accounts have just become a…
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Unlike many taxes which are generally passive in nature, the New Land Tax provisions allow you to make a number of active choices including nominating a designated beneficiary of a Discretionary Trust, Notifying the Commissioner (or not) of Unit Holders of a unit trust, or choosing who will be the director of a land owning company. All these choices, and…
Latest Post
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Narumon Pty Ltd (2018) QSC 185
March 1, 2022
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Munro v Munro [2015] QSC 61
March 1, 2022
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Ioppolo v Conti [2013] WASC 389
March 1, 2022
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