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Taxation & Duties
It is said that there is nothing certain except death and taxes.
There are many taxes in Australia. At Stacks Law Firm we are often asked to provide advice in relation to:
At a Federal level there are various duties, such as Customs Duty, and at a NSW level most people are affected sooner or later by what is generally known as Stamp Duty.
Taxation and duty issues often arise incidentally to other instructions received by our firm and some examples of that are set out below. However, busy members of the business community often don't find time to sit down with their taxation lawyer and their accountant to look over their legal structures and consider their ongoing liability to tax and duty. A thoughtful review will often reveal that there is a more tax effective way in which to operate.
There are numerous examples of people doing things which they shouldn't do, or failing to do things which they should do, because of an incomplete understanding of the taxation and duty consequences.
If a trustee executes a declaration of trust under certain circumstances, full ad valorem duty may be payable on all of the assets of the trust. If there are a lot of assets, this may be a very expensive step. However, as an alternative, the execution of a company minute noting the existence of the trust may have a quite different consequence so far as stamp duty is concerned.
What our clients say
Please convey to everyone at your firm that we are extremely appreciative of all the hard work they have done to assist us.
It has been a humbling experience from our family to be assisted and represented by such a competent, compassionate and caring legal team.
While we still have some work to do the fact that we were able to repay the deposit and be in a position to pay a large number of accrued liabilities has taken a large weight off our minds.
Quite frankly Clayton we could not have achieved the result without you and we are very humbled and appreciative of all your efforts. We believe we are very fortunate.
Thank you for your support and friendship
A very big thank you to you and the team from my family and I.
Without you guys it would not have happened.
So once again thanks Nathan ,really appreciated all your help we couldn't have done it without you.
PS;The business I started is moving at a rate of knots , so exciting times ahead
Staff motor vehicles - Fringe Benefits Tax
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