It may surprise some, but tax issues should be considered when preparing wills for clients. Effectively this means understanding the tax status of assets that will pass by will on death. Consider for example a couple who own a commercial property in partnership, where depreciation has been claimed on the building and fit-out. The couple…

Tax concessions are available for property transferred under a Relationship Property Agreement (RPA). Subpart FB of the Income Tax Act takes the approach that the recipient steps into the shoes of the transferor, so that no tax implications arise with the transfer. However, the parties and their advisers should take into account any deferred tax…

The latest Court of Appeal decision in the Hugh Green estate/trusts saga makes sobering reading. Everyone lawyered up: there were four sets of instructing lawyers, six barristers, four of whom are QC’s, involved in the proceedings and the Court ordered the costs of all parties to be met by the trust funds. Shades of John…

©Copyright Turner Legal Limited. All rights reserved.

logo-footer