Archives for October 2014

Enduring power of attorney

Last updated 26/08/2015
Understanding how to create an enduring power of attorney (EPA) may help protect your financial affairs and property in the event of illness, disability or unsoundness of mind.

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Re-settlement of trusts – towards a definitive test

Until relatively recently, it was generally thought that amending a Trust Deed to add beneficiaries (for example) would amount to a Re-Settlement (Re-Settlement) of the trust and the creation of a new trust with consequential effects of capital gains tax (GST) and potential liability for state based transfer duty.   The case of Commissioner of Taxation v Clark [2011] FCAFC 5 (Clark) provides authority for the proposition that this is not necessarily the case. Clark and provides a basis for the development of a formulaic approach to the development of a set of broad tests which can be applied to ascertain whether a Re-Settlement may or may not occur.

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Convertible Notes

While convertible notes (Convertible Notes) may in a lot of cases provide considerable benefits for the issuer they may also create a significant burdens.  This article attempts to explain what can be a complex financial instrument by examining some of the key features of Convertible Notes and some of the more common legal issues associated with their use. [Read more…]

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