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Hot Issues
Part 1 – Budget reminders. Under the Hood.
Part 2 – Budget reminders. Under the Hood.
Part 3 – Budget reminders. Under the Hood.
Comprehensive list of COVID-19 initiatives and packages.
Businesses not meeting obligations warned as ATO restarts compliance programs
Employers cautioned over ‘hard and fast’ decline in turnover eligibility
‘Follow the spirt of the law’, warns ATO
$120m in JobKeeper clawed back by ATO, new compliance areas highlighted
Budget 2020 - A very comprehensive break down.
Budget 2020 - Fact Sheets
Budget 2020 - At a Glance, Overview, Outlook
Temporary home office expenses shortcut extended again
JobKeeper extension – changes implemented
JobKeeper Participants – are “workers”
Commissioner registers updated JobKeeper alternative tests
Varying Pay As You Go (PAYG) Instalments
Reminder of Medicare Levy Surcharge (MLS)
September update of latest COVID-19 initiatives.
ATO JobKeeper 2.0 guidance surfaces
Expats Return to Australia – Travel Expenses
Profession to be relied on for post-JobKeeper turnover certificates
Update of Superannuation contribution rules from July 1, 2020
Expats & COVID-19 Impacts on tax residency
Economic recovery could be slower than anticipated: RBA
High Court rules in favour of employers on personal leave accruals
JobKeeper Phase 2 - Latest Update
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Articles
Preservation Age Rules affects those born after 1 July 1960
SBEs 'to save millions
Ransomware - BEWARE!
No Change to Super Fund Borrowing Rules (yet)
Property to remain at top of ATO’s hit list
Turnbull stands firm amid SG freeze speculation
Tax breaks, education and access to advice key to successful transition to retirement
Dying Without a Will
Access to good Budgeting and cash flow tools is important to us all.
Dying Without a Will

 

Many will be surprised (possibly unpleasantly) by the formula prescribed in various states legislation, if a person dies without a valid will.



             


Each state has a formula prescribing the proportions that spouses and children will receive.  They often prescribe that a spouse will receive the first $100,000, and half to one-third of the balance.  The children may receive half to the other two thirds.  In Tasmania and New South Wales, the spouse often receives everything.


This may give an answer that is acceptable in simple circumstances, but if you have separated and not divorced or blended families with children from different relationships, the answer may be very much contrary to what would generally be deserved or expected.


The only way to avoid the uncertainty is to make a will.


Having made a will, it is then important to ensure that it is up to date and deals with changed circumstances.  It can also be impossible to change a will if the person loses capacity – this is generally a result of dementia.


 


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10th-February-2016
 
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