Professionals

The self-managed superannuation fund (SMSF) sector has experienced extraordinary growth over the last 15 years now accounting for almost $600 billion of superannuation, overtaking the retail superannuation sector now worth about $550 billion. Most individuals cite the desire for investment control and reduction of fees as their driver for establishing an SMSF. There is no question that a SMSF offers... Read more

Many Australians living overseas experience some difficulty when trying to arrange finance for a property purchase. Though there are some lenders who will refuse loans for expats as standard policy, many lenders will lend – albeit with more stringent requirements than for an Australian resident. Some lenders will consider overseas net income when calculating your borrowing capacity, though they typically... Read more

Under ordinary circumstances the sale of a property that you purchased after 20 September 1985 would attract Capital Gains Tax (CGT). Any gain made on the sale is included in your assessable income in that financial year.  The gain from the sale of a CGT asset can be reduced by 50% when you have held the asset for more than... Read more

There is some speculation that the Turnbull government will consider some tax reform for superannuation. Whilst we wait to see what super changes actually occur in the coming months or years, it is important to remain confident in the tax advantages of investing your wealth in the superannuation environment. Helping our clients plan for the future every day, we are... Read more

For those individuals earning more than $180,001 p.a. you will see your tax rate reported as 45%. However in reality this rate is incomplete. Once you have added in the 2% Temporary Budget Repair Levy and the 2% Medicare Levy your real tax rate becomes 49%. Further, for individuals in this highest tax bracket without adequate Private Health Insurance, your... Read more

Commercial litigation often occurs as a result of common and recurring mistakes that are made during the drafting and negotiation of contracts. Businesses that are conscious of these can significantly reduce their risk of litigation. While a good lawyer should be doing all this for you in the background, as a business owner or manager it is worth understanding the... Read more

Have you recently left Australia to live overseas, or are you planning a move in the future? You will be considered either an Australian resident or non-resident for tax purposes, and this will have a substantial impact on the amount of tax you will pay on both your Australian and overseas-sourced income. Some careful planning prior to leaving Australia will... Read more

The lending industry is responding to social changes in property buying. As prices continue to rise, first home-buyers are increasingly looking for novel ways to get started. Lenders have now established a class of home loan specifically for buying a property with friends. The new style of loan enables pooling of money with friends, or family, without the usual shared... Read more

There were many positives in Treasurer Hockey’s second federal budget, the tone of which was a stark contrast to his grave warnings, severe spending cuts and austerity messages a year earlier. However one must question the optimistic forward growth estimates on which treasury base their calculations – I hope they are correct. We attach a paper issued by the Institute... Read more

‘Ademption’ is a legal term that describes what happens when something that is left as a gift in a Will is no longer owned by the Will-maker at the time of their death. Consider these examples of how this can occur. Example 1: The gifted property has been sold, for example the family home has been sold to fund aged... Read more