The building allowance is a deduction that allows property investors to offset construction costs of their investment property against their tax assessable income. The deduction is available for: buildings or extensions, alterations, or improvements to a building alterations and improvements to a leased building, including shop fit outs and leasehold improvements structural improvements such as...
Self-Managed Superannuation Funds (SMSFs) are a cornerstone of Australian superannuation, empowering individuals with the autonomy to manage their retirement savings directly. A critical evolution in this domain was the amendment to the Superannuation Industry (Supervision) Act 1993 (SIS Act) in 2007, which facilitated SMSFs to engage in Limited Recourse Borrowing (LRB) arrangements. This innovative financial...
When trust deeds or constitutions need changing Sometimes trust deeds or company constitutions need to be changed. To ensure this is done correctly, you will need the help of an experienced lawyer. Changing a trust Changing a trust can be complex, and if it’s not done right, you could end up with tax problems. To...
A good conveyancing solicitor will help ensure that you don’t have any regrets about a property transaction, even years later. They will make sure all the paperwork is in order and that your interests are protected. Here are some of the answers to some of the most common questions a conveyancing lawyer gets. We hope...
Are you trying to incorporate your sole proprietorship business? Well, it takes time to do so, not to mention quite a challenge if you don’t know what you are doing. Sole proprietorships are quite different from incorporated businesses; the obvious point is that it is a separate legal entity from you, the owner. It also...
Buying a new house is often an exciting time for first-time home-buyers, though the process can be intimidating as it can look like a minefield of legal knots, paperwork, and expensive out-of-pocket fees along the way. The process between the offer on the house down to when you receive the keys can be tricky as...
Preparing a Will is essential. It is an opportunity for you to have your say in how your affairs are managed before it’s too late. The Importance of Making a Will If a person wants their estate to be distributed in a particular way upon their death, a will is essential. Making a Will can...
Don’t worry! It’s natural to have questions. 1. What is a Notary Public? A Notary Public in Queensland is a solicitor appointed by the Archbishop of Canterbury, England to witness the signing of important documents, to administer oaths and witness Statutory Declarations and to certify true and correct, copies of original documents for both national...
Purchasing a unit and don’t understand what a CMS is? It is important that Lot Owners familiarise themselves with their CMS to ensure that they adhere to the requirements and obligations set out therein. Why have a community management scheme (CMS)? A CMS is an important part in helping to regulate the body corporate. When...
Whether you have written a book, composed a song, taken a photo, or produced film media, we can help. What You Need to Know Protection of your work begins with your intellectual property, and no matter the size of your project, you need to know your rights. Some rights are automatic, meaning you don’t need...