When preparing end of year trust distributions it is important to consider the impact of any foreign person exclusions in the trust deed. Failure to consider this and to get it right can result in the trust distribution being ineffective and the trust income being taxed to the trustee at 47%. But, the fix to the problem may be as simple as a deed amendment.
Read MoreOn 22 April 2020 the NSW Governor made a new regulation which permits wills, powers of attorney and instruments appointing enduring guardians (together with a number of other documents) to be executed using video conferencing technology
Read MoreThe presumption of advancement means that an amount paid by a parent to a child will be presumed to be a gift unless there is evidence to the contrary.
Read MoreIn celebration of the Oscars we wanted to share with you our nominations for best movie featuring tax or tax law.
Read MoreWestpac (and its subsidiaries St George Bank, Bank of Melbourne and BankSA) announced that they will no longer offer new loans to SMSFs looking to invest in the property market. This takes effect from 31 July 2018.
Read MoreIRS announces its Offshore Voluntary Disclosure Program will be coming to an end
The IRS has announced that its Offshore Voluntary Disclosure Program (OVDP) will end on 28 September 2018.
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