News & Blog
Legal perspectives from our expert lawyers
Legal perspectives from our expert lawyers
Ademption is the legal term used to describe the circumstances where a gift of specific property bequeathed under a will fails because it no longer belongs to testator or testatrix (i.e. the maker of the will) at the time of their death.
This recent case is a timely reminder of the care that needs to be taken when writing a Will for older and/or vulnerable clients.
Income passing to children under 18 years of age will have penalty rates of tax applied, unless the income is "excepted trust income" (and therefore taxed at normal (adult) tax rates). For this purpose, 'children under 18 years of age' means if they ...
The member of a SMSF made a withdrawal request before his death but the benefit was not paid until 28 weeks after his death.
Chisak v Presot [2022] NSWCA 100 Judgment Date: Â 21 June 2022 Explanation: The recent decision of ...
A common asset protection strategy used by those who engage in high-risk business or provide professional services is to put the matrimonial home in their spouse's name to protect it from the claims of creditors in context of bankruptcy. This practic...
A recent decision in the Federal Court of Australia shows the importance of properly considering the particular wording used in a trust deed when exercising a power under it, and the adverse consequences that may flow if the rules of a trust are not ...
The Full Court of the Federal Court found that the "ordinary and customary turnover of labour" exemption to redundancy pay in the National Employment Standards did not apply to a large service company which dismissed its employees when their...
In a bid to incentivise philanthropy during these tough times, the Federal Government is providing credits for Private Ancillary Funds that exceed their minimum yearly distributions (see the announcement here). Private Ancillary Funds (PAFs) are requ...