Fringe Benefit Tax (FBT) has long been a headache for business owners, but proposed changes could bring welcome relief to your compliance burden. The government is considering three key simplifications: a clearer vehicle classification system, exemptions for minor benefits, and streamlined entertainment rules. These changes could significantly reduce the time and effort spent on FBT compliance. With the consultation period open until May 2025, now is your chance to have your say on these proposed changes.
A new financing option could make the transition to retirement living easier. The recently introduced 'Village Access Loan' by one of the banks allows homeowners to borrow up to 50% of their retirement village entry cost, using their existing home as security. This three-year bridging finance gives retirees more flexibility in timing their property sale and securing their preferred retirement village. Find out how this differs from reverse equity loans and what it means for you.
In part one of our series on Trusts, we explore the unique challenges faced by blended families. Picture your family trust as a citadel protecting your hard-won assets - but what happens when new family members enter the picture? Through the story of David and Jane's blended family, we illustrate how seemingly innocent actions can inadvertently create legal claims on trust assets.
We're delighted to welcome two new faces to our Aspiring Law team. Rosa Garcia Knight and Elise Streat bring fresh energy and expertise to our firm and embody our commitment to providing clear, client-focused legal services within our community.
