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ANZ have just released the information below concerning hybrid trusts

I have a friend who has a long term lease on land. He has build a large shed and runs a commercial business on it. A fin planner has suggested he transfer the ownership of the building to his smsf. It has been valued by a bank at 500k and the smsf would pay this amount to the current owner which...

The Commonwealth Bank has failed to recover a $13.5 million loan after a court ruled former Billabong surfwear entrepreneur Matthew Perrin forged his ex-wife's signature on mortgage documents to obtain the money. Read more...

Interesting article Legal hammer falls - court orders 'broke' bidder to pay $447,000 plus costs EXCLUIVE by Janet Fife-Yeomans From: The Daily Telegraph September 03, 2011 IT was just a two-bedroom cottage with dream, never-to-be-built-out panoramic ocean views. The...

in today's Sydney Morning Herald there is an article about a new Australian documentary, Real Estate 4 Ransom. This appears to be a doco critical of property speculators and the tax system skewed to favour the investors at the expense of the renters. see...

Anyone out there know if there are any potential asset protection issues with making an interposed entity election between two companies?

Someone sent me a link to this interesting article by Peter Mericka: Conveyancing Consumer Alert - Beware of the Sneaky Stamp! My Summary: - Agent selling the property place a "sneaky stamp" on his Sales agreement with the vendor - The sneaky stamp contained a clause which allowed the...

Hi Do any of the brokers out there know current policies regarding lending for a company as trustee for a unit trust with the units owned by separate unit holders. I used to be a broker, but not any more, and I haven't kept up to date with all the changes lately.

Seminars for trustees of self-managed super funds The ATO offers seminars to trustees of self-managed super funds (SMSFs) to help them increase their knowledge about their responsibilities and obligations. The two seminars that we offer are held at various locations around Australia during...

In the new Federal Budget the Government has announced they will remove the Low Income Tax Rebate for children for passive income. This will have a big effect on those with trusts who have been distributing to children. Previously kids could get up to $16,000 (or a bt over actually) each pa...

On 4 March 2011 the Govt released a discussion paper on "Improving the taxation of trust income" see http://www.treasury.gov.au/documents/1981/PDF/Discussion_paper_Improving_the_taxation_of_trust_income.pdf It looks like the Govt is going to amend the Tax Act concerning the definition of...

A friend of mine has been having problems with a neighbour which is a commercial operation. The neighbour has offered to buy his property and the price offered is "market value" plus another component which is an amount for "costs and compensation for disturbance". The home is a main residence...

In an August edition of the Bantacs Newsflash there was a small article about an application for a private ruling which concerned a 'method' of borrowing from a LOC to pay the interest and other expenses of a rental property. The ATO rejected the method and denied the deductibility of this...

What do you think about the ethics of Asset of Protection? Is it unethical to put assets out of reach of creditors?

How do you reduce the stamp duty on the purchase of shopping centre worth approx $357,000,000 which would have been $9,665,492 to just $765? a few options and a 300 year lease, see Centro (CPL) Limited v Chief Commissioner of State Revenue [2010] NSWSC 751...

Hi There is an interesting article on Crikey with an even more interesting diagram of the Packer family business set up - probably on part of it. The article is entitled "Who profits from our foreign aid? The untold story of GRM International" and is available at...

HI I was just thinking about put/call options being used to buy and sell property. I know the granting of an option is a CGT event, D2, but what if an option agreement is signed, but the actual contract of sale is not signed until exercising the option. If someone enters into an option...

The High Court Decision on Bamford has been handed down. Summary at http://www.taxpayer.com.au/media/news/bamford_case_high_court_decision.html "The High Court's interpretation of the law was consistent with that of the lower courts, to the effect that the term "share" in s97 is a...

I have just completed the College of Law Dip of Legal Practice, and law degree, and am looking for a job. I need to do at least 75 days work in a law practice, under the supervision of a solicitor, to qualify for admission as a solicitor and get my practicing certificate. It seem very...

A HOME owner has been ordered to pay $70,000 in compensation to the widow of an electrician who died after working in his roof. The decision, handed down in the District Court would surprise many property owners ignorant of their responsibilities, a legal expert has told the Herald...