Following on from our article last month about stamp duty being abolished on homes for first home owners up to a certain limit, the Federal Government in its recent Budget also established a scheme to help people save for their first home by using their superannuation fund to build savings for a deposit in a tax advantageous environment. Continue Reading..
Tony comes to see you about a 'too good to refuse' offer he has received from a developer – $5 million GST inclusive for a property
he bought for $5,000 in 1970.
Tony comes to see you about a 'too good to refuse' offer he has received from a developer – $5 million GST inclusive for a property he bought for $5,000 in 1970.Continue Reading..
It is first thing on Tuesday morning when you receive a call from your client Lachlan who wants you to review an auction contract for a farm that has come up for sale next to his. The auction is scheduled for that afternoon so Lachlan, as he always does, has really left things until the last minute. You had a terrible night’s sleep after a big blue with your husband about his spendthrift ways, and aren’t feeling all that sharp, but you have the time to review the contract. Lachlan also wants you to attend the auction with him. Continue Reading..
From 1 July 2017 the NSW Government will introduce a long awaited range of new measures to assist first home buyers and housing affordability generally throughout NSW. Under current laws in NSW, first home buyers are only eligible for a stamp duty exemption on a purchase of a new home up to the value of $550,000 (and in the case of vacant land, a purchase up to the value of $350,000). Continue Reading..
Legal housekeeping is essential to a stress-free future. In the event of death, injury or illness, there are simple legal documents that can give you and your family instant financial and emotional relief.Power of Attorney (“POA”)A POA document allows you to appoint an attorney to act on your behalf in relation to your financial and/or legal affairs. If you have an enduring POA, the document continues to be effective once you have lost capacity, which is where it’s true value lies. Continue Reading..
You knew it was professionally unwise, but you just couldn't say no to your old mate Peter when he asked you to help fix up his family succession plan. You tried to explain, but when he said “Maaate, come on, school mates and footie mates and you can’t help? Come on…what are mates for?”. Continue Reading..
You’ve just come back to work after being on medical leave and are excited to receive a call from a longstanding client, Molly, who wants you to act for her regarding a purchase of an investment property for $3 million. Molly tells you the purchaser will be Edlly Pty Ltd as trustee for the Moed Family Trust. The Moed Family Trust was established in 1967.You phone the vendor’s solicitor to give her the purchaser details. Continue Reading..
Your husband Robert suffered a stroke three weeks ago and is in hospital. The doctors tell you that Robert is suffering from memory loss. His prognosis is not good and several weeks later Robert becomes extremely ill. The doctors tell you Robert has lost mental capacity and transfer him into high care. Continue Reading..