What Exactly do Executors of Wills do?
One of the biggest decisions when you prepare a Will is deciding who will be the executor. This role is a big responsibility, and the decision shouldn’t be taken lightly. To help you nominate the right person, here’s a rundown of what a Will executor’s tasks include. What do executors of Wills do? The executor […]
Why A DPN Can Put Your Personal Assets Under Threat
If you run a business of any size, it’s vital you understand what a director penalty notice (DPN) is and how to deal with one. Here is an explainer, as shared by a Legal Affairs Business Lawyer. What is a Director Penalty Notice (DPN)? A director penalty notice is issued by the Australian Taxation Office […]
How To Minimise Tax When You Sell Your Business
If you have worked hard on your business for many years, you are likely to have a plan to sell it at some stage. One question we are often asked about at LAL is how tax applies on the sale of a business. There isn’t a black and white answer, but this article will give […]
Solving Insolvency Without Liquidating
In these rapidly evolving times, demand from consumers is shifting, product availability has changed, and costs are becoming unmanageable for many businesses. If your company is experiencing financial trouble and you can’t see a simple way out, it may be time to explore insolvency. Many business owners assume that becoming insolvent means liquidating. When this […]
The Steps for Insolvency for Debtors
The term insolvency describes the situation where an individual or business cannot pay bills when they are due. Take a look at some of the options and steps involved with the insolvency process if you are a business. How do you know if you are insolvent? The signs you are insolvent are: If the number […]
What to do if you get a director penalty notice
Anyone can start a business in Australia, which is a positive thing because businesses present incredible opportunities to make money and create jobs for others. However, starting and operating a business can be complicated. Many people find they have bitten off more than they can chew, especially when it comes to paying taxes. If you […]
Buying Real Estate with Your Partner: Do You Need a Prenup?
Buying real estate, can be an incredibly exciting process, particularly the first time around. If you’re intending to do so with a partner, it’s just as momentous and signifies a big step in the relationship, as you plan towards a happy future together. Buying property is the biggest purchase many Australians will ever make. So, […]
Why your Business Needs a Social Media Policy
There’s no denying that social media connects us, informs us and of course, entertains us. What was originally used by individuals for personal use has now expanded to use by businesses to advertise – and often with great results. However, social media should always be used with caution. You probably know about stranger danger already, […]