Self-managed superannuation funds (SMSF) & enduring power of attorneys (EPOA)
The following example from a draft tax ruling illustrates some of the issues in respect to Self-Managed Superannuation Funds (SMSF’s) and Enduring Power of Attorneys (EPOA). If this prompts a query from you, give us a call:
EXAMPLE: Clare is the sole member of a SMSF. The SMSF trustee is Clear Pty Ltd and Clare is its sole director. The responsibilities of being director of the trustee company of the SMSF have become too difficult and time consuming for Clare. Read the rest of this entry »
Bring up the bodies (with apologies to Hilary Mantel)
The NSW Supreme Court recently dealt with an unusual dispute, as to who had the right to bury the body of a deceased person.
The plaintiff was the deceased’s sister and the defendant was the deceased’s de facto spouse. Both litigants, and the deceased were of Aboriginal heritage and one of the factors considered by the Court was the importance of cultural, spiritual and religious factors relevant to the place of burial in Aboriginal culture. Read the rest of this entry »
Paying deposits by installments – vendors beware
It is increasingly common in contracts for the sale of land, for vendors to accept less than the traditional 10% deposit. Commonly, contracts contain clauses to the effect that, although the deposit remains 10%, a smaller sum is payable on the exchange of contracts and the balance of the 10% remains payable – typically at the time of settlement.
Problems can arise when the contract does not settle due to default by a purchaser. The vendor has not received (and cannot retain) the full 10% deposit. Claims to recover the outstanding part of the deposit are often defended on the basis that ordering payment of the balance of the deposit would be a “penalty” and is therefore impermissible. Read the rest of this entry »
Rights between joint guarantors
The NSW Supreme Court recently dealt with a claim for contribution between multiple guarantors. In simplified form a company “OD” loaned money to an incorporated legal practice. The loan was guaranteed by three individuals and a further company Trout Hall “Trout”. The loan was not repaid. Two of the three individual guarantors became insolvent. The lender sued the remaining individual guarantor, Mr Robert Clancy, and he cross claimed against Trout. 
Prior to final hearing Mr Clancy paid an amount to the lender to settle the claim against him. Ultimately, the Court held that Mr Clancy had paid more than required. Trout argued in its defence that because of the payment by Mr Clancy no amount remained owing from it to the lender. It seems the lender accepted that argument because the claim between the lender and Trout also resolved. Read the rest of this entry »
Offers of compromise & indemnity costs
In most Australian jurisdictions if litigant “A” makes an offer of settlement to litigant “B” which is rejected but, at hearing, litigant “B” does not obtain a better outcome than the offer, then litigant “A” can argue its costs should be paid on an “indemnity” basis. In practice that generally means that a greater amount is payable to litigant “A” than might otherwise be the case. Such offers can be made either under formal rules of Court, such as the Uniform Civil Procedure Rules, or by what is commonly known as a “Calderbank” letter. 
Christmas for separated families Part Two: Supporting parents without their children at Christmas
Christmas can be a difficult time for newly separated families. While Part One of this series suggested some tips for providing a child-focused Christmas period, in this article we look at how the parents can be supported by their loved ones and how they can support themselves during the festive period. 
It is a sad reality for separated families that there will often be one parent, and one extended family, who are not with their children for Christmas. Where this is the first Christmas since separation this can be particularly hard as the thought of Christmas without your children can be foreign and miserable.
Read the rest of this entry »
Christmas for separated families Part One: Making it easier for the kids
Christmas can be a difficult time for newly separated families. This two part series will provide some practical tips for families with separated children, grandchildren, and extended family, to help everyone enjoy the festive season. 
Christmas is a happy time for children, but when children are exposed to arguments or negative comments between their parents, the happiness can disappear very quickly. Many children feel anxious, sad, angry and torn between their parents, and on special occasions such as Christmas, these feelings are heightened. Read the rest of this entry »