Search publications by:
- 22 May 15 Has the PPSA undone your asset protection strategies? The Personal Property Securities Act 2009 (Cth) is widely regarded as the most significant change to the law in Australia since the introduction of the GST and has the potential to materially reduce the effectiveness of existing asset protection structures.
- 3 Oct 12 Trust assets protected on property settlement Towards the end of 2011, the case of Harris v Harris considered whether the assets of a family trust should be treated as assets of a marriage and so subject to division on a property settlement. The case provides further context to the general attitude of the Family Court in relation to family trust structures, especially in relation to the concept of indirect control as outlined in Kennon v Spry.
- 4 Sep 12 Beware the changing definition of beneficiary A recent decision of the Administrative Appeals Tribunal (AAT) is a timely reminder about the definition of a beneficiary for tax and arguably trust law purposes.
- 14 Jun 12 Assets of a family trust not necessarily at risk on a matrimonial breakdown A recent decision of the Family Court highlights the importance of carefully considering the most appropriate structure for trust arrangements to achieve the objectives of the parties, particularly in the context of a relationship breakdown.
- 13 Jun 12 Discretionary trusts - health check On 30 March 2010, the High Court of Australia handed down the long-awaited decision in Commissioner of Taxation v Bamford; Bamford v Commissioner of Taxation. Following this case, the tax law in relation to trusts has been changing, and is likely to continue to change as new legislation affecting the taxation of trusts is developed.
- 6 Mar 12 The new securities regime The Personal Properties Securities Act (PPSA) officially commenced on 30 January 2012 and is now in full force across Australia. The PPSA introduces fundamental changes to legislation governing personal property securities throughout Australia. It potentially impacts on any person or organisation who deals in personal property as part of their day to day business. This might include financiers lending funds to be secured by personal property, manufacturers supplying goods on retention of title terms or businesses hiring equipment.
- 8 Mar 11 Trustees' obligations in exercising discretion - Finch v Telstra Super Pty Ltd Superannuation Fund Trustees should take note of a recent decision by the High Court of Australia. The decision has a number of implications for superannuation fund trustees exercising a discretion given to them under a fundís trust deed. The case also gives guidance regarding the duties of a superannuation fund trustee under trust law, and their obligations to beneficiaries.