Author: webadmin

How healthy is your business? Why you need a legal health check… It’s simple really – you can’t fix what you don’t know. Too often people come to us when a legal issue has already surfaced, such as, being sued, insolvency, an unforeseen tax liability or an investigation being commenced by a Government regulator. These issues can be costly distractions and often could have been avoided if preventative steps were taken at an earlier stage. What is involved? First, we will get in contact with you to gain an understanding of your business objectives and risks. We will then provide you with a detailed report which identifies potential legal risks and areas which could be improved. Just a few of the key areas we...

Protecting the family home - Gift and loan back arrangement Many business owners personally hold real property in their own name. The principal place of residence capital gains tax (CGT) exemption often drives the decision to have the family home held by individuals. The downside to this arrangement is that if an individual is faced with bankruptcy, they could lose their family home and other assets held personally. Transferring real property to other legal entities will trigger stamp duty and potentially CGT, so often a restructure is not a commercially feasible solution. Many smart couples decide that only one of them should hold the family home in their name. This frees up the other partner to undertake entrepreneurial activities, knowing that the family...