It is with great pleasure that JMA Legal would like to announce we have opened a new office in Tumut. Continue Reading..
Jane and James have been clients of yours for the last ten years. You enjoy working with them because they seem quite an adventurous couple, so you are thrilled when James calls you to say he would like to meet up with you to discuss his new business idea.James tells you that he and some of his mates are going to set up a brewery in their local town and that he will become the director of the new company which is going to run the operation. James and Jane are concerned about James’ personal liability and think it’s wise for James to retire as trustee of their family trust. You are familiar with their trust; it owns several units at the coast and Jane and James, along with Jane’s father, are the trustees, and the beneficiaries are Jane, James, their children and Jane’s father. Continue Reading..
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..