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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Why a Testamentary Trust in a Will?

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There are a number of legitimate reasons to include a testamentary trust in a Will. The benefits include, but are not limited to:

(i) Providing a gift to a beneficiary with a disability, that may not be able to manage their own affairs. The Will maker may want to ensure that the beneficiary may benefit from the income of the fund during their lifetime, with the capital to go to another beneficary on their death.

(ii) Protection ...

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Protecting Your Assets

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We have all read about high profile disputes, over the assets left in the Wills of high net wealth individuals. The families of Richie Benaud, Dick Pratt, and Lang Hancock have all had difficulties sorting out their estate issues.

Unfortunately, no lawyer can give assurances to Will makers that someone in their family will not make a claim against their estate for a share, or larger share than the Will maker deems appropriate. All the Will maker ...

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Will Makers Extended Duty of Care to Beneficiaries

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In the case of Calvert v Badenach, decided in July in Hobart, Tasmania, it was found that a Solicitor’s duty of care when advising a Testator extended to beneficiaries and potential beneficiaries. In that case, a Solicitor advised a client about making their Will, but failed to give any detailed advice about a potential Family Provision Application that could arise from the Testator’s disenfranchised daughter. The Testator left the bulk of his estate to a friend who was ...

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Video Will Admitted in NSW to Probate

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Justice Lindsay of the Supreme Court of NSW, in the case of Re Estate of Wai Fun CHAN, on 7th August 2015 admitted a video made by a dying Chinese woman, to Probate. The 85 year old widow had made a formal written will two days earlier with her Solicitor, leaving her estate equally between her 8 children. She later decided to leave a larger share to her two children who were resident in NSW, and therefore made ...

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Domestic Violence

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It is a sad fact of life that violence within relationships is increasing as economic conditions and financial hardship place more pressure on families. There is no barrier of age, status or gender. It may take the form of physical or sexual abuse but may also take the form of one party exerting control over another.

The Domestic and Family Violence Protection Act 2012 has made a number of changes to the existing legislation. Importantly, the definition of Domestic Violence has ...

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Divorce – A Trying Time

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Family Law is an area of law that covers a wide range of highly emotional issues consequent upon the breakdown of a relationship or marriage. It deals primarily with such matters as divorce, division of property, care of children, domestic violence and child maintenance just to name a few.

The matters that separating couples have to deal with can be complex and confusing. People are forced to make life changing decisions at a time when they are least equipped ...

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Cut out of the family Will?

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Many people are not aware that they may have the right to challenge the Will in circumstances where they have not been provided with adequate provision for their proper maintenance and support.

If you are the deceased’s spouse, child or dependant and you believe that the deceased’s Will has failed to provide you with what you believe to be a fair and proper proportion of the deceased’s estate then you may possess the right to seek the Court’s discretion to alter ...

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Bankruptcy and Insolvency Law – Director Penalty Notices

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On 29th June 2012, the government amended the Tax Laws to crack down on phoenix operators.

Previously Company Directors could avoid personal liability if:

  1. The company’s liability was discharged; or
  2. The company is placed into administration; or
  3. The Company is wound up and a liquidator is appointed;

within 21 days from the date of the issue of a Director Penalty Notice.

The major change provides a much tighter time frame for Directors to avoid personal liability for outstanding superannuation and PAYG tax. If the liability for ...

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