Do you have your business held in Family Trust or Discretionary Trust? The ATO and most trust deeds, require a resolution distributing the income from the trust to its various beneficiaries to be made. If the resolutions are not passed, they cannot be made and back-dated. That amounts to fraud. Some deed have a default […]
Below is a sheet which shows the benefit of having superannuation equalisation provisions in a Will if there is at least one financial dependent sharing equally in an estate, e.g. no spouse, two children out working and one child at school. If the superannuation and other assets are split equally, such as in the first
Superannuation Equalisation Provisions in Wills Read More »
It has been a week of helping clients deal with stressful situations. One client had a meeting with the ATO last week regarding an R&D rebate claim in relation to the development of some software with a large artificial intelligence component, and went away with the understanding that: (a) The ATO believed he had committed
ATO Troubles (Our Clients, Not Us) Read More »
We have one client whose company was ordered to be wound up yesterday, but the company assets seem to exceed it liabilities, so we may yet be able to get the company back from the liquidator. We were engaged too late to be able to stop it, unfortunately and too late to proceed with several