When parties have a contract in place, there may be circumstances where the parties wish to amend the contract where appropriate as it may no longer reflect the agreed positions of the parties to the agreement. This includes changes to the original contract’s terms, clauses, sections or definitions.
It is time to get on top of your business financials as the new financial year begins so you can implement your business goals for the upcoming year. To ensure your business is healthy: actively review your business’ financials (including your cash flow). It may also be beneficial to see a financial planner to get a holistic view of finances, tips and advice to help set your financial goals and develop strategies to reach them.
If you’re a business owner, you must ensure that you complete and lodge your income tax returns whilst meeting the superannuation requirements. With small businesses, it is essential that you check what record keeping and other tasks need to be completed. For instance, profit and loss statements to show a summary of income and expenses, conducting a stocktake, summary of your record of debtors and creditors, etc.
A family trust is usually set up by families who want their assets safeguarded and can provide tax benefits, protection from individual liability, inheritance and investment purposes. The trust deed is the legal agreement that will govern the trust’s operation, binding terms and conditions and role of the parties involved. A trustee manages the fund and has the power to decide which beneficiary/s receives the trust’s net income and capital gain and a settlor acts as a third party that hands over assets to the trustee on behalf of the beneficiary.
Separation is not only a difficult time for the parties involved, but the children as well. Australian family law expresses children’s right to enjoy a meaningful relationship with both parents, including their protection from any form of harm.