Important Considerations in the Exercise of a Trustee’s Discretions
Owies v JJE Nominees Pty Ltd [2022] VSCA 142 on a trustee’s duty to act on a real and genuine consideration. The desirability of discretionary trust…
Updates to NSW Land Tax and Stamp Duty
In this article we take a look at some important changes made to the Duties Act 1997 (NSW), as well as some updates to NSW land tax coming in 2023. CPN 02…
The tax consequences of reimbursement agreements
With Draft Taxation Ruling 2022/D1 comes clarity as the application of the reimbursement agreement provisions, and a warning as to the strict consequences…
Common Issues with Trusts – Revenue NSW & Surcharge Land Tax
Of late we have seen a number of clients with land tax controversies with Revenue NSW. The most common issue we are currently seeing concerns discretionar…
An update on the remote witnessing and electronic execution of deeds
This article takes a brief look at the current state of affairs for the remote witnessing and electronic execution of deeds across Australian jurisdiction…
What is a Testamentary Discretionary Trust?
Given that is an inevitable reality we all face, estate planning is an issue that affects everyone. The most common type of succession plan is a simple wi…
What You Need to Know About SMSF Trust Deed and 13.22 c Unit Trusts
When it comes to wealth generation and retirement planning, utilization of superannuation should always be at the top of your priorities. This is because…
An Overview of Division 296
The Treasury Laws Amendment (Better Targeted Superannuation Concessions and Other Measures) Bill 2023 (“the Bill”), which has passed the House of Represen…
New self-reporting requirements for nonprofit organisations: 2023-24
In May 2021, the federal government unveiled changes to the tax administration of Nonprofit (NFP) organisations that self-assess as income tax exempt. The…
A look at the small business entity capital gains tax exemptions
The Australian taxation regime provides contains several capital gains tax (CGT) exemptions for small business entities (SBEs). In 2019 the Board of…
Considerations in amending a trust deed.
Amending a trust deed is process that should be treated as requiring careful planning, consideration and intentionality. Indeed, unintended (and undesirab…