Blog

  • Who is going to get your Super when you die?

    Australians are holding more wealth in super than ever before. Not only is the Australian Government increasing the percentage of your wage that must be paid into a super fund, but more Australians are taking advantage of the benefits that come with holding wealth in Super.

    It is a common misconception that your Will dictates who gets your superannuation. Ultimately, the Trustee of your super fund decides who gets your super payout. But, how does the Trustee decide who gets it?

  • Tax office amnesty on foreign income declarations

    On 27 March 2014, the Commissioner of Taxation announced ‘Project DO IT’, an initiative within the Australian Taxation Office (ATO) to allow eligible taxpayers to come forward and voluntarily disclose unreported foreign income and assets.  From the ATO’s website, this initiative covers amounts not reported, or reported incorrectly, in income tax returns, including:

  • Repeal of the 'Carbon Tax'

    On 17 July 2014, as promised by the Coalition prior to winning the last Federal election, the Senate passed carbon pricing repeal legislation with effect as from 1 July 2014.  The legislation passed by the Senate is as follows:

  • Green light on the Eastern Section of the East/West Link

    The Victorian Minister for Planning, Matthew Guy, has approved the initial stages of the East-West Link Tunnel. The approval by the Minister opens the door for the start of the Compulsory Acquisition process.

    Aitken Partners believes the first Notices of Intention to Acquire will be sent by the middle of August. This step officially starts the acquisition and compensation process and Aitken Partners already represents several businesses and residents expecting to be affected by the project. 

  • Cuts to family migration program and social impact on Indian Australians

    In the 2014/15 Commonwealth Budget, it was announced the Federal government would cease from 2 June 2014 to accept new applications from certain family and parent (non-contributory) categories of visa.  Those visa subclasses affected were:

  • Personal liability for company taxes

    Question: When can an individual be personally liable for a company’s taxation liabilities?

    Answer: If they are deemed liable by reason of being a director of that company at a particular time. 

    The director penalty provisions under the Taxation Administration Act 1953 are a powerful tool in the Australian Taxation Office’s (ATO) arsenal for recovery of certain outstanding company tax debts. 

  • East-West Link Update

    The Linking Melbourne Authority has recently informed landowners that the first step in the compulsory acquisition process, the serving of the Notice of Intention to Acquire, is expected in July/August this year.

    Ensure that your rights are protected and engage a lawyer with experience in the compulsory acquisition of land.

    Contact Peta Olive or Sebastian Greenway to discuss the East-West Link Project today!

  • Anti-bullying Quarterly Report Released

    The Fair Work Commission's quarterly report on the new anti-bullying legislation has been released showing that from 1  January to 31 March 2014, 151 applications were made, of which:

  • Guarantor gets reprieve

    A landmark decision in the Supreme Court of Victoria on 9 April 2014 demonstrated that banks do not always have it their own way when recovering from guarantors. 

    In Perpetual Nominees Ltd v McGoldrick and Ors, McGoldrick sought to defend the claim brought against him under a guarantee he had given for borrowings made by his company from Perpetual.

  • To immunise? Or not to immunise? - when parental responsibility is thrown into light

    The issue of whether or not to immunise your child is one that raises many concerns and divided opinions for parents. Regrettably, this is even further heightened when parents are separated and unable to communicate effectively around the topic.