Tag Archive for: legal advice

How to get a Divorce: 4 Steps to a fresh start

People often talk about going through a ‘messy divorce’, when in fact, obtaining a divorce is the easiest part of separation. Are you considering getting a divorce and wondering what the process will be like?

Married couples in Australia can apply for divorce if their marriage has broken down irretrievably. To apply for an Application for Divorce the parties need to be separated for a period of at least 12 months; and

• One of the parties must regard Australia as their home and intend to live in Australia indefinitely or

• be an Australian citizen by birth, descent or grant of Australian Citizenship, or

• have lived in Australia and have done so for 12 months immediately before filing the divorce.

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Buying Property In Your SMSF

Australians are known to love property as an investment vehicle. Generally this has been achieved by borrowing from a bank to purchase property before paying it off over time. Since 2007 self managed superannuation funds (SMSF) have been allowed to borrow money to acquire property, which has seen a large increase in the amount of SMSFs and the amount of property owned by SMSFs.

What is a SMSF?

A SMSF is a superannuation fund that has four (4) or fewer members and is an alternative to retail and employer sponsored superannuation funds. In a SMSF, the members (who are subject to strict rules) have control over the superannuation fund, its investments and decisions.

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The Curse of the DIY Will

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“Homemade Wills are a curse” – This was the opening remark in a recent judgment of an Australian Will dispute case…

At Southern Waters Legal we agree! Unfortunately we see first hand the expensive mess left behind when people attempt a DIY Will. Homemade Wills often cause significant delays in beneficiaries receiving their inheritance, drawn out expensive litigation and family disputes.

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Haven’t been paid for goods or services you’ve provided? What steps to take

Debt disputes arise in both personal and business relationships and can cause a great deal of stress. Here are some simple steps you can take to recover your money:

1. Check the details

The first step is to review all the information you need to start the debt recovery process.

You should confirm who the invoice is made out to, and who issued the invoice. This will allow you to determine who you need to chase for the debt (the debtor) and who the money is actually owed to (the creditor).

You should then establish exactly what goods or services you provided to the debtor and how much the debtor owes you for these goods and services.

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Tax Time: 5 Quick tax tips

The end of the financial year is upon us and it is a good time to consider these 5 handy tax tips…

1. Superannuation

Do you have any employees whom you are paying superannuation? Superannuation is not tax deductible until it has been paid, accordingly you must pay before 1 July 2015 to be able to claim your superannuation tax expenses and be able to reduce your income tax bill.

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Child Support: Get the system to work with you – not against you!

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Following separation, you may be entitled to child support, you may have to pay child support or otherwise come to your own tailored arrangement, whereby you share costs of the children. People are often confused by this process, and why wouldn’t you be, separation involves a lot of “firsts”

Broadly speaking there are three ways to address child support:

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6 Superannuation Tips for Contractors & the Self-Employed

1. Look after your future self

Superannuation is a way to save for your retirement. When you are a Contractor or Self-Employed, Superannuation is essentially your own obligation. There is no employer squirrelling away your 9.5% for you every pay run. Treat yourself as an employee and put Super away each year to ensure you can live comfortably in retirement.

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