Publications and News

Incorporation of Anoni Wright

4 September 2017

It is with great pleasure that JMA Legal would like to announce we have incorporated Anoni Wright Lawyers of Junee. Our new office is located at 93 Broadway Junee NSW 2663. Continue Reading..

New Office in Tumut

15 August 2017

It is with great pleasure that JMA Legal would like to announce we have opened a new office in Tumut.  Continue Reading..

Personal Property Security Register deadline 31 January 2017 for migrated registrations

11 January 2017

Did you or your client have a security interest automatically migrated to the personal property security register in 2012?  When the PPSR was set up, it replaced many other public registers. Registrations recorded on over 35 registers were automatically moved across to the PPSR on 30 January 2012. Many of these registrations migrated with MISSING or INCOMPLETE fields. The Personal Property Securities Act 2009 (Cth) has allowed 5 years for these discrepancies to be fixed up. This date will come to an end on 31 January 2017. It is essential to ensure your registration was effectively migrated.  Continue Reading..

JMA Legal Sydney office moves

18 November 2016

It is with great pleasure to advise that the Sydney office of JMA Legal will open our doors in more spacious and comfortable surroundings from Monday 21 November. Our new address is Level 8, 65 York St Sydney 2000 and our telephone number will change to 02 8089 3142. Continue Reading..

New laws affect all vendors and purchasers selling or buying property over $2m

19 May 2016

From 1 July 2016, new laws affect all vendors and all purchasers selling or buying property over $2,000,000 in Australia. All vendors who sell a property valued at $2M or more will have 10% of the sale price withheld by the purchaser, UNLESS they can provide a clearance certificate from the Australian Tax Office showing they are an Australian resident on or before settlement. All purchasers who are buying property have to pay to the ATO 10% of the purchase price UNLESS they have received a clearance certificate from the vendor. Severe penalties apply if this is not done. Continue Reading..

New and generous small business rollover relief

11 May 2016

Subdivision 328-G commences on 1 July 2016. All passed and ready to go - and very generous. The provisions apply to small business entities - those with an aggregated turnover of less than $2 million. There must be no change in underlying ultimate ownership by individuals. Transfers can be between individuals, companies, partnerships and trusts - but not superannuation funds. Continue Reading..

Buy-sell agreements/ life insurance/ self managed super funds

7 May 2015

It is not uncommon in buy sell agreements to have a partner/shareholder’s exit funded by a life insurance policy held by the partner/shareholder’s self managed superannuation fund. Continue Reading..

JMA Legal incorporating Callan and Luff

1 October 2014

Following the purchase of the business of Callan & Luff on October 1, 2014, JMA Legal will incorporate the office of Callan & Luff. Continue Reading..

Electronic conveyancing is coming

30 April 2014

Electronic Conveyancing will be implemented throughout NSW by the end of 2014, which means that Solicitors and Conveyancers will be able to conduct most elements of conveyancing transactions electronically.  Continue Reading..

Trusts and UPE's

9 April 2014

Unpaid Present Entitlements owed by a Trust to a corporate beneficiary can be taxed in the hands of the Trust pursuant to Division 7A if the UPE arose after 16 December 2009 and has not been paid out.
That is, if the Trust and corporate beneficiary form part of the same family group and the company has knowledge that the funds representing its UPE are being used by the trustee for trust purposes, this can be treated as a Division 7A loan from the company to the trustee. Continue Reading..

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