- Conveyancing & Real Estate
- Employment Advice & Disputes
- Family Law
- Wills, Estates & Wealth Protection
- Building & Construction
- Corporate & Commercial
- Insolvency & Restructuring
- Intellectual Property
- Litigation & Dispute Resolution
- Planning, Environment & Local Government
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- Taxation & Duties
- Workplace Relations, Employment and Safety
Taxation & Duties
It is said that there is nothing certain except death and taxes.
There are many taxes in Australia. At Stacks/The 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
Hi Courtney and Nathan,
Please accept my profound gratitude for the manner in which you have attended to and dealt with my uncle’s estate on my behalf.
I have found you both to be high quality people who have made things easier especially when dealing from afar.
I really appreciate all of your help, and would not hesitate to recommend or use Stacks/The Law Firm in Ballina again.
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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