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February 2020

Sparking the EV Revolution: Key issues for mass adoption of electric vehicles

Spare a thought for Nikola Tesla. The Serbian/American scientific genius and rival of Thomas Edison, whose inventions continue to define how we use electricity today, died an impoverished and relatively unknown figure in a New York hotel during the second world war.

AUSkey is changing - are you ready?

The deadline for myGovID is fast approaching, with only six weeks before the ATO turns off AUSkey at midnight on Friday 27 March 2020.  

Upcoming changes to foreign purchaser duty

Looking to purchase residential property in a discretionary trust? You may be subject to additional duty from 1 March 2020. The foreign purchaser additional duty provisions have been in effect since 1 July 2015, but the Commissioner has been applying a ‘practical approach’ until now. 

Can your company still protect you?

Asset protection is one of the primary reasons companies are used. A company is a separate legal entity and the corporate veil provides protection to the directors, however, in limited circumstances the protection afforded to directors is lost. The traditional instances where director protection is lost were breach of fiduciary duties (i.e. doing what’s in the best interests of the company) and trading whilst insolvent (i.e. being unable to pay company debts as and when they fall due). In addition to what the Corporations Law (the act that governs company conduct and director responsibilities) provides as exclusions from protection of directors, the Australian Taxation Office (ATO) has always had the weapon of the dreaded Director Penalty Notice (DPN).

What is a Family Constitution and how can it assist our family?

Many clients are concerned that if something was to happen to them, what would happen to their assets, their children and their family legacy? Some lay awake wondering if their family is equipped with the right tools to manage short and long term needs once they are no longer able to. Often they will ask the same question…..is having a Will and Estate Plan enough?  

Why you need to plan your exit to maximise your valuation

Finish as you started. It’s a well-known quote on social media, but when it comes to exiting a business, seldom put into practice. In the heady days of a new business, owners understand the importance of good planning to ensure their future success.