IMMIGRATION – SUB CLASS 457 REPLACED WITH SUB-CLASS 482 TEMPORARY SKILLED SHORTAGE VISAS (“TSS VISA”)

A Skilled Occupational Assessment behind a nomination determines whether the new TSS Visa may be available for up to a maximum of four years: The short term stream is for occupations on a specific list (STSOL) The medium term stream is for occupations usually of a higher skill level in the MLTSSL occupational list. There […]

FUNCTIONS OF AN EXECUTOR TO A WILL

Everyone understands that a Will is an extremely important document.  It should be kept in a secure place.  For example, if whilst in the custody of the Willmaker an original Will is lost there is a legal presumption – which can be overturned by contrary evidence– that the Will was revoked. Apart from disposing of […]

ENDURING POWER OF ATTORNEY (MEDICAL TREATMENT) NOW REPLACED BY ADVANCE CARE DIRECTIVE AND MEDICAL TREATMENT DECISION MAKER PROVISIONS

On 12 March 2018 the Enduring Power of Attorney (Medical Treatment) legislation was repealed and documents under that Act were abolished.  Existing grants are still valid – such Appointees becoming Medical Treatment decision makers.  The new regime replacement documents require that an Advanced Care Directive is executed and – if desirable – a Medical Treatment […]

ENDURING POWER OF ATTORNEY

Despite reforms to the Enduring Power of Attorney papers for Medical Treatment everyone still has the right to make an Enduring Power of Attorney appointment and it is an important way of planning for the future.  In appointing an Enduring Attorney a person does not lose or divest the power but shares it with the […]

PERSONAL LIABILITY OF COMPANY DIRECTORS

PERSONAL LIABILITY OF COMPANY DIRECTORS Pursuant to the Taxation Administration Act 1953 (Cth)(“TAA”) Company Directors are now obliged to ensure that a company either meets its remittance obligations under subdivision 16-B of Schedule 1 of the TAA or alternatively, the company is promptly placed into voluntary administration or liquidation.  These amendments have been introduced to […]

UNIT TRUST FAQ

 UNIT TRUST FAQ  1. What is a Standard Unit Trust? A Standard Unit Trust is a Trust divided into units all of the same class that gives the unit holders equal rights to vote and share in the distribution of income and capital in proportion to the number of Units held. A Unit Trust does […]

DISCRETIONARY TRUST FAQ

DISCRETIONARY TRUST FAQ  1.                   What is a Discretionary Trust?          An arrangement set up by Deed of Settlement (a Trust Deed) that permits a Trustee to hold assets for a beneficiary (or beneficiaries) and to distribute income and capital between the beneficiaries as and when the Trustee exercising a discretion decides. 2.            How is a […]