Mar 21, 2025 | Law Firms, Legal Firms, NSW Law Society Audits, Trust Accounts
📅 Deadline Reminder: Solicitors must submit their trust account audit to the Law Society of NSW by 31 May 2025. The audit covers the financial year from 1 April 2024 to 31 March 2025—so now is the time to prepare your financial records and ensure compliance. The Law...
Oct 18, 2024 | Small Business, Succession Planning, Taxation, Trust Accounts
Family trusts can be an important tool for protecting and distributing wealth within families in Australia. Whether you’re interested in shielding your assets, benefiting from tax advantages, or simply planning for the future, a family trust offers an effective...
May 2, 2024 | Taxation, Trust Accounts
The ATO has signalled that it is willing to pursue professional services firms who divert profits to avoid tax. Two new cases before the Administrative Appeals Tribunal demonstrate how serious the Australian Taxation Office (ATO) is about making sure professional...
Mar 15, 2023 | Taxation, Trust Accounts
With the ATO’s new directives on the taxation of trust distributions, it’s essential to review arrangements. Book a planning session to ensure you’ve got the best beneficiary arrangements. What is a Family Trust? A family trust is a legal arrangement in...
Jun 24, 2022 | Taxation, Trust Accounts
Do you operate a trust for investment or business purposes? Trust management can be complex but worthwhile to protect assets, streamline the tax return process and maximise allowable deductions. Talk to us about how we can help manage your trust. Whether you have a...
Apr 1, 2021 | Trust Accounts
Under the Legal Profession Uniform Law (NSW) and the Legal Profession Uniform General Rules 2015, law practices are required to have their trust accounts examined by an External Examiner each year. The external examination year for trust accounts...
