Buying a home is the biggest investment or financial outlay that most of us will make in a lifetime. It is critical to your financial future that you make well-informed decisions when you purchase a property, whether it be for your own home or an investment. The Contract for Sale…
Attention to Detail – Defects in Statutory Demands
A statutory demand is a useful way to exert pressure on a company to force it to pay its debts. However, a creditor using a statutory demand to quickly recover a debt can run into trouble if the legal requirements regarding the form and wording of the statutory demand are…
Enduring Powers of Attorney explained
A lot of people have heard of a Power of Attorney however most do not fully appreciate the extent of its power, the benefits it delivers or the types of Powers of Attorney that exist. A Power of Attorney is a useful legal document used to allow someone to handle…
Business Structures: Company
When commencing a business venture, it is necessary to consider the most appropriate type of business structure to put in place. Different business structures have different benefits and disadvantages. This article looks at companies – how to set one up and the pros and cons of a company structure. Key…
An Overview of Guarantees and Indemnities
It is important that anyone who is asked to provide a guarantee or indemnity understands precisely what their liabilities are under the arrangements. In this article, we identify the distinguishing features of both guarantees and indemnities and consider the significant differences between the 2 kinds of arrangements. Features of a…
The problem with death (another one) and your superannuation
A macabre thought. Imagine (apart from being a great Dad and valued husband) you are the sole breadwinner for your family of five. Imagine one day, (and contrary to your reasonable hope or expectation of the standard 84 odd years) you drop dead suddenly. What happens now? What sort of…
Are you a director of an insolvent company?
During difficult economic conditions it is important that all directors revisit their duties as directors and are aware of how the board should deal with the situation where a company is in financial difficulty and may be insolvent. What is insolvency? A company is deemed to be insolvent when it…
Extension of the unfair contracts regime to small businesses
The Federal Government has enacted legislation extending the unfair contract term protections of the Competition and Consumer Act 2010 (Cth) and the Australian Securities and Investments Commission Act 2001 (Cth) to the small business sector. Under the new laws, a Court is able to declare that a term of a…
Superannuation splitting laws – things you need to know
When a marriage or de facto relationship breaks down property can be divided between the parties. Superannuation is treated as property under the Family Law Act and as such can be adjusted, transferred or divided between parties when a relationship breaks down. Although it should be noted that de facto…
The power of the ATO and family law settlements
Many clients come to see a family lawyer wanting to talk about issues related to the ATO, while others haven't turned their minds to their own tax affairs for some time.