Superannuation and Director Penalty Notices

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The Treasury Laws Amendment (2018 Measures No. 4) Bill 2018 commenced on 1st April 2019, having received Royal Assent on 1 March 2019.

The Act amends the reporting timeframes for superannuation relating, to Director Penalty Notices (“DPN”), and the effect of the timing for reporting of Superannuation entitlements of employees by Company Employers.

There has been no change for PAYG and the three-month from due date rule continues to apply.

The new law eliminates the three (3) month from the ...

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What happens when Beneficiaries can’t be found?

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Pursuant to the Succession Act 1981 (Qld), the Personal Representative of an estate has an obligation to all beneficiaries of an estate, to administer the estate in accordance with the law and “as soon as may be”.
If a Personal Representative fails to properly distribute an estate to all beneficiaries named in a Will or pursuant to the rules of intestacy (when someone dies without a valid Will), the Personal Representative is personally liable to any beneficiaries who suffer damages ...

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Estate Planning – Too Difficult?

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Most people seem to be aware of the importance of making a Will, however, very few people are aware of the tax advantages and asset protection advantages of making a Will which contains a testamentary trust. Now, more than ever, with the tax free thresholds being substantially increased is the time to seek the proper legal advice in this area. A properly made Will containing a well drafted testamentary trust may result in your loved ones taking advantage of substantial ...

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Proofs of Debt – Should a Secured Creditor Lodge One in a Liquidation?

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If you are a creditor of a Company placed into Liquidation, but you are holding a security such as a mortgage or Personal Property Security Act charge over property of that Company, you should take legal advice before you respond to a request by the Liquidator to lodge a proof of debt.

Section 554E of the Corporations Act, provides for a secured creditor to surrender their security and prove for the whole debt balance, or realise that part ...

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