Family Trusts – How to use for Asset Protection!

We have been discussing with a client recently about how to use their Family Trust for Asset Protection. There are some very important issues to be considered in relation to the use of Trusts in this area. A Trust is started by someone “settling” an amount on the Trust. This amount can be any amount the settlor likes, but in … Read More

Xero News and Addons

At S&W we have been helping clients implementing and working with Xero for years. There are always new developments happening in this area so below we have listed the latest news and updates relating to Xero. If you are still getting your staff to process and prepare expense reimbursements on paper then you need to stop and contact us immediately. … Read More

New Partner of S&W

We have some big news at Stanley & Williamson. We have decided to bolster our partner ranks and we have appointed a new partner. Kamal Thakkar, who joined us in January 2017 has been appointed a partner of the firm. Kamal is a registered company auditor and is heading up our rapidly growing audit division. He brings significant experience and … Read More

Can I buy cryptocurrencies in my self-managed super fund?

Bitcoin and other cryptocurrencies have been around for many years but in recent months they have been in the news as their daily values go up and down more often than the highest rollercoaster in the world, The Kingda Ka in New Jersey. So, whilst some investors have made gains on these virtual currencies, can they be purchased by a … Read More

Does your Family Trust include Foreign Beneficiaries?

Most family trust deeds include a beneficiary list that is not just limited to the immediate family, but may include extended family members, who may be living overseas. Are these potential extended family members foreign beneficiaries? The fact that no distribution has been made to, or is intended to be made to, a foreign beneficiary does not help when determining … Read More

Simple super now super complicated

It has been 10 years since the Simple Super Reforms were brought in on 1 July 2007. A decade later the “Simplified Superannuation” system has become a labyrinth of legislation. From 1 July 2017, running a SMSF became more complicated and the new raft of reporting obligations and total superannuation balance calculations has created some new acronyms to drop-in on … Read More

What happens if a director incorrectly signs a contract?

Section 127 of the Corporations Act 2001 (the ACT) states that a company can execute a document if the document is signed by its directors with or without a common seal. The method of executing documents with a common seal stamp is no longer widely practised in Australia (and is outside the scope of this article – but directors need … Read More