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25.01.2022 Foreign Income and the ATO It is common for foreign residents to rely on income generated overseas, or liquid assets parked overseas, to meet their expenses incurred in Australia. Accordingly, funds are often transferred from foreign countries into the Australian bank accounts of the foreign residents. As a result of electronic information sharing between various financial institutions and government departments, the ATO has begun contacting foreign residents and asserting th...at the transferred funds are foreign income, and therefore taxable. What is Australian resident for tax purposes? Below is a table extracted from the ATO website at https://www.ato.gov.au//Inter/Work-out-your-tax-residency/ which provides a useful summary of the residency status in common examples. If you: you are generally: leave Australia temporarily and do not set up a permanent home in another country an Australian resident for tax purposes are an overseas student enrolled in a course that is more than six months long at an Australian institution an Australian resident for tax purposes are visiting Australia for more than six months and for most of that time you live at the same place, and you either have or establish ties in the local community an Australian resident for tax purposes are visiting Australia for more than six months, and for most of that time you are travelling and working in various locations around Australia a foreign resident for tax purposes are either holidaying in Australia or visiting for less than six months a foreign resident for tax purposes migrate to Australia and intend to reside here permanently an Australian resident for tax purposes leave Australia permanently treated as a foreign resident for tax purposes from the date of your departure Why is residency important for tax purposes? Accurately determining your residency for tax purposes is important. If for tax purposes you are an Australian resident, worldwide income is taxable. You are required to disclose all income, whether foreign or domestic, in your income tax return. To avoid potential double taxation, the Australian Government has entered into International Tax treaties with over 40 countries. There is a system of crediting and exemptions, which is used to ensure that you are not taxed twice on the same income. If youre not an Australian resident for tax purposes, you are only required to disclose Australian income in your tax returns. Therefore, foreign income received from overseas does not generally need to be disclosed. You should also note that income has a different character to a capital asset. Transferring an asset from jurisdiction to jurisdiction does not render it income. If the ATO is alleging that monies received is income, or taxable, when you suspect that it is not, you may be required to disclose the nature of the funds. For more information, contact us on 02 8355 9999. See more

25.01.2022 Family Law and Property Settlements: How is the Property Divided? Over the course of a relationship, parties often spend years accumulating, selling, reinvesting and simply using up various types of property. Property is commonly jointly owned, or legally owned by one party but financially or non-financially contributed to by the other party. In some circumstances, one party has fulfilled the role of homemaker and/or parent, enabling the other party to engage in employment. O...Continue reading

25.01.2022 Trusts : Just how debt-free is a trustee? Once upon a time trusts were a tool of the privileged, used primarily for the purpose preserving inter-generational wealth in prominent families. Today, trusts have become commonplace in the business and commercial landscape. Trusts are now used as vehicles for property development, trading entities for businesses and private wealth-distribution vehicles. Often, trusts are established as a means of limiting commercial liability and mi...Continue reading

24.01.2022 Enduring Powers of Attorney: Wolf in Sheeps Clothing On the instruction of the Attorney General, the Australian Law Reform Commission (ALRC) is currently carrying out an enquiry into the ability of the current law to protect the rights of elderly Australians from abuse. The Discussion Paper was released by the ALRC on 12 December 2016, and the overwhelming concern of legislators and industry leaders alike is the scope for dishonest children of the elderly to abuse powers gi...Continue reading

24.01.2022 Challenging a Will: Are you really free to make the Will you want? If you have recently undergone a separation, estrangement from your children or know of anyone who is experiencing family conflict, take a moment to consider this: does the law allow you to make any kind of Will you wish? Can you leave a family member out of your will? Can the Court override your intentions? In New South Wales, the answer is yes on all fronts. For over 100 years, parliament has tried to ensure...Continue reading

24.01.2022 In what is thought to be an English legal first, a High Court judge has embraced the modern world and used emojis to help children involved in a family dispute understand his judgment more easily.

24.01.2022 Protecting your Assets: Can you trust a Family Trust? Investors and entrepreneurs alike have been using and abusing the Discretionary Family Trust model for decades. It seems that for the purposes of income shifting, tax minimisation and asset protection from creditors, family trusts have topped the charts in a way that even Michael Jackson couldnt! If youre asking yourself, what exactly is this complicated beast known as the Family Trust? Youre in the right place, and if ...Continue reading

22.01.2022 Genuine Position What the DIBP is looking at? Following recent review of and policy changes to the 457 program, it appears that the Department of Immigration & Border Protection (DIBP) has been scrutinising all 457 nomination applications more heavily, with a focus on assessing whether a nominated position is genuine. Genuine Position Risk Factors In cases where a nominated position is created purely to facilitate a 457 visa application, the position would be considered... not genuine and the application will be refused. Below are some factors that might influence a case officer to raise concerns about genuine positions. Self-sponsorship or sponsorship of a related person; Base salary not reflecting the market rate, either disproportionately lower or higher; The nominated positions are among the list of occupations which have attracted a higher level of attention from the DIBP, such as Accountants, Marketing Specialists, or Contract Administrators. Genuine Position Supporting Evidence By contrast, evidence that might help address concerns about genuine positions would include but not limited to: Evidence that the business has an ongoing need for the position. For example, the position has existed previously, or existing employees have been increasingly required to work overtime to perform tasks of this position; Evidence that the business has grown, or evidence that indicates the business has a planned expansion of its business activities; Evidence that the visa applicant will perform a significant majority of tasks as listed in the ANZSCO dictionary or relevant legislative instrument. Our services We would strongly recommend that all 457 sponsors consider above-mentioned factors before nominating a 457 visa applicant. We will also continue to work closely with our clients to help address the DIBPs concerns, including advising on appropriate evidence to be supplied to the DIBP on a case by case basis and preparing a detailed submission addressing the issues above. If you would like to discuss any of the above further with our team, please do not hesitate to contact us. Author: Shannon Lin, Immigration Lawyer See more

19.01.2022 Foreign Resident Capital Gains Legislation enacted on 25 February 2016 finalised the new Foreign Resident Capital Gains Withholding Tax requirements. These rules apply to contracts for the sale or purchase of Australian property entered into on or after 1 July 2016. What are the new rules? Having met certain criteria, where a foreign resident disposes of certain taxable Australian property, the purchaser will be required to withhold 10% of the purchase price and pay that am...ount to the Australian Taxation Office (ATO). What property do the new rules apply to? The regime applies to taxable Australian property, being: Real property in Australia; Lease premiums paid for the grant of a lease over real property in Australia; Mining, quarrying or prospecting rights; Interests in Australian entities whose majority of assets consist of the above such property or interests (an indirect interest); and Options or rights to acquire the above property or interest. Subject to the following exclusions: Real property transactions with a market value under AUD $2 million; The purchase price may be used as a proxy for market value if the purchase price is negotiated on an arms length basis. Transactions listed on an approved stock exchange; and Where the foreign resident vendor is under external administration or in bankruptcy. Clearance Certificates If the property does not fall under one of the exclusions above, the vendor (if eligible) will need to make an application for a Clearance Certificate. The Clearance Certificate model aims to provide certainty to purchasers regarding their withholding obligations. Once obtained, the Certificate confirms that no withholding tax needs to be withheld from the transaction. If the vendor fails to provide a Certificate by settlement, the purchaser will be required to withhold the full 10% of the purchase price, and pay this to the Australian Tax Office. The ATO estimates that for straightforward cases, clearance certificates will be provided within days of the application being submitted. Irregular cases may require 14-28 days, with higher risk and unusual cases taking longer than 28 days. Applications for Certificates can be made at any point, even before the vendor has listed the property for sale. What to do if affected Where an amount is required to be withheld, the purchaser must complete an online Purchaser Payment Notification form and submit it to the ATO. Purchasers required to withhold the tax must pay it to the ATO without delay. A general interest charge may apply to late payments, while an administrative penalty may also be imposed. Issues to Consider Given the wide range of estimated completion times for Clearance Certificates (longer than 28 days in some cases), it is important for the vendor to apply as early as possible. If you are a purchaser, you should make sure the vendor has obtained a certificate at the first opportunity so that exchange and settlement dates are not impacted. See more

19.01.2022 Friends In Need Association Annual Fund Raising Event 22 Oct 2016.

17.01.2022 What a fantastic night!! THANK YOU to everyone who came to the event, bought raffle, donated prizes or their time, and supported this wonderful cause. We did it... and with the help of so many generous people, we raised the $50,000 that Sydney Secondary College Balmain needs to purchase their modified bus . Stay tuned for pictures of its arrival next year. Enjoy your prizes to those who won! See more

16.01.2022 2016 Melbourne Cup Longton Legal

16.01.2022 Longton Legal Collection Tin Donation to Sydney Childrens Hospital

16.01.2022 How to claim for a motor vehicle accident ( MVA) in NSW? Report the accident to Police To lodge a claim for a MVA, you must report the accident to police as soon as you can. Make sure you have the details of the driver at fault and the registration of the car.... Photographs of the damage to your car should be taken if it is a minor accident and your car is not towed away. Even if police do not attend at the scene of the MVA, you can telephone the police. Retain the details of the person you speak to or go to your local police station to report the MVA within a reasonable time. If the police do not wish to accept your report, you must keep details of the conversation because if the MVA is not reported to the police, the driver at faults insurer will dispute your claim. Personal Injury Claim Form Once you have reported the MVA we recommend you make a formal claim and lodge a claim form on the driver at faults insurer ( the CTP insurer) within 6 months of the date of the MVA if your injuries are expected to last longer than six months or cost more than $5,000. ( http://www.sira.nsw.gov.au//80862/Personal-Injury-Claim-Fo ) It is very important that all of your injuries are included in the claim form, even if you do not have any symptoms now, we recommend you include that injury in the claim form. We will assist you complete the claim form. Who can Claim? The driver, passengers, motorbike riders and pillion passengers, cyclists, pedestrians and other road users. What can you claim? Past and Future Income Pain and Suffering subject to certain criteria Past and Future medical and treatment expenses Past and Future Domestic assistance ( paid and / or unpaid care) What the CTP insurer should pay if you are not at fault in the MVA? The insurer will pay for reasonable and necessary treatment expenses related to the MVA. This includes hospital, medical, pharmaceutical and rehabilitation expenses like physiotherapy and chiropractic treatment. Reasonable and necessary treatment is defined as : directly relates to your injuries the treatment will get you back to your usual activities it is provided by qualified health professionals and is cost effective/reasonable. You should keep a record of all medication and treatment expenses. If you require prescription medication, we suggest you attend the same pharmacist so that if a record is required at a later stage, your medication can be easily obtained from that pharmacy. This will ensure that you receive reimbursement of all treatment expenses from the CTP insurer. If a CTP insurer fails to pay for any treatment, we can help you challenge that decision. See more

12.01.2022 132 Visa (Significant Business History) State & Territory Nomination Criteria In our previous article Millionaires, where are you going to?, we discussed criteria of the Department of Immigration & Border Protection (DIBP) and certain requirements from relevant state government on 132 Visas for those who are interested in relocating to Australias top three most popular immigrating cities - Sydney, Melbourne or Perth. In this article, we will discuss state or territory nom...Continue reading

11.01.2022 Raffle Tickets for Friends in Need Association Inc Fundraising Dinner on 22/10/16 only $2 Call on 02 8355 9999 to purchase

09.01.2022 HOW TO GET BAIL IN NSW This article contains general information regarding the NSW bail laws and should not be considered tailored legal advice. If you know someone in jail who needs advice about bail applications, we encourage you to contact one of our criminal defence lawyers directly. Bail is the authorisation to be at liberty whilst you wait for your case to be finalised. Depending on the nature of the allegations and your personal circumstances, bail may be unconditional...Continue reading

09.01.2022 Its beginning to look a lot like Christmas....and today we held a Christmas extravaganza at the Hospital for our children and families! Thanks to everyone involved, including our army of wonderful volunteers.

09.01.2022 Our Criminal Solicitor Maria Maltezos @Friends In Need Association 2016 Annual Fund Raising Night

08.01.2022 Now in its 15th year, Amber Affair has grown to become a staple event on the Aussie beer lovers calendar - combining the warmth of charitable giving and the am...bience of a festival with a comprehensive exhibition of craft beer and wine. Amber Affair 2016 was held at The Argyle on 20 October and raised an incredible $50,000 for Sydney Childrens Hospital, Randwick. Thanks to our generous event patrons, suppliers, supporters, MC, auctioneer, guests and the Amber Affair event committee. Gold patrons: Cryermalt, Kegstar and Keg Services Generous supporters: Event Equipment, The Atticism PR, Think Big Online Marketing and The Argyle. Photos by Brendon DSouza.

08.01.2022 Australian Business/investment Visas and Lawful Acquisition of Assets One of the most important requirements for Australian Business Visas is that visa applicants must provide evidence to prove their source of funds and that the funds are acquired lawfully. In some cases, this can be the biggest concern for visa applicants in the whole application process. Key to success of your applications Applicants must provide the type of evidence and present it in a way which is easy to... follow by a case officer at the Department of Immigration & Border Protection (DIBP). Though visa applicants are not required to disclose all of their assets but only assets that they claim to possess to meet relevant visa requirements, it is still important that visa applicants provide as much information as possible to their immigration lawyers/agents to enable them to properly assess their cases and develop appropriate strategies to ensure success of the applications. Evidence that may back up your claims Evidence that may help prove source of assets and the accumulation of assets over a period of time may include: Taxation documents, including tax returns; Bank statements; Business accounts; Receipts for sales of assets; Audited financial statements; Evidence of an ownership interest; Company registrations and licences etc. If threshold business requirements are not met If in doubt, a case officer may request visa applicants to provide historical financial documentation to prove the source of funds the applicants used to purchase or operate their businesses. If the threshold business requirements are not met, visa applications will be refused. The case officer may also refer cases to law enforcement liaison for further business background and character checks. Our services Our immigration team can help assess available evidence against the DIBPs criteria and provide guidance as to how to present the evidence in a manner which will help DIBP officers understand your case, give proper weight to evidence provided and make a favourable decision in your case. If you are interested in getting an Australian business visa but are not too sure as to how to prove your source of funds, please do not hesitate to contact us. See more

07.01.2022 2016225201671 ... 10%10%(ATO). 10%(ATO) 14-2828 (ATO) 28 -Luga Zhou See more

06.01.2022 Our Sponsor to Friends in Need Association Inc

05.01.2022 NSW LEGAL AID IS IT REALLY A WASTE OF TAXPAYERS MONEY? Recently, the Daily Telegraph published an exclusive entitled Legal Aid wasting millions as sick killers lodge appeals against sentences. As a practitioner who regularly works with Legal Aid clients, I am proud to say I represent clients on a Legal Aid grant and will continue to do so. This article is a response to some of the main points raised, which reflect a fundamental misunderstanding of both the role of Le...Continue reading

05.01.2022 To Vic or not to Vic? That is the question. Are you thinking about getting a 188A visa and operating a business in Victoria (including Melbourne)? If so, weve got some tips for you. Are you eligible for a Victoria state nomination? In addition to satisfying the immigration departments requirements for a 188A visa, you will also need to meet the following criteria to receive a Victoria state nomination:... Have a genuine commitment to remain in Victoria and to engage in ongoing eligible business activity within 23 months of visa activation; and Agree to have available no less than $400,000 for business activity in Victoria. What is an Eligible Business? Victoria state government has advised that whilst almost any commercial endeavour may be eligible business, the following activities may be excluded unless otherwise agreed to by the Victoria state government: small scale property development; small scale freight forwarding and warehousing; commodity and scrap metal export; and passive investment. For example, in some circumstances, exporting wine and beer, infant formula and baby food from Victoria to China may not meet Victorias nomination criteria, even though the Chinese market has shown great interest in Australian suppliers of these products. By comparison, exporting Victorian honey, olive oil or items manufactured from wool may be considered eligible business activities if certain requirements are met. Getting a waiver for excluded activities? We were advised that under certain circumstances, it is possible to get a waiver for business activities that fall under the excluded category for a Victoria state nomination. It appears that the main concern of the state is whether the proposed business will make a direct contribution to the Victorian economy. For example, if a 188A visa applicant is able to demonstrate that their proposed business will assist Victorian businesses in exporting their products or addressing market gaps or help create or retain Victorian jobs, the state government may consider granting a waiver. Our Services If you are considering migrating to Melbourne or other parts of Victoria on a 188A visa, we can help assess whether it is likely your proposed business activities will meet Victorias nomination criteria and, if not, what you could do to strengthen your case. If you would like to learn more about the criteria or process of a 188A visa or state nominations, please do not hesitate to contact our office. See more

03.01.2022 What you need to know about 457 Position Descriptions Are you a 457 visa sponsor, visa holder, or just intending to apply for a 457 visa? If so, read on. Position Description key to success of a 457 visa application Normally, a 457 sponsor is required to submit a detailed Position Description at the time of application. If the immigration department is of the opinion that job duties stated in the Position Description do not include a significant majority of tasks or duties ...described in the relevant occupation dictionary or legislative instrument, the nomination application will be rejected. Meeting your sponsorship obligations Once a 457 visa is granted and a 457 holder starts working with the sponsor, the sponsor must ensure the 457 holder performs the duties and tasks approved by the immigration department. If the employer would like to make any changes to the approved duties, the employer must notify the immigration department and, where necessary, get a new nomination application approved before the 457 holder can perform their new duties. This rule also applies in situations where 457 holders duties have changed following promotions. If the sponsor fails to meet these obligations, the 457 visa compliance unit may decide to sanction the sponsor. Ensuring a smooth transition from 457 to 186 When a sponsor nominates a 457 holder for a 186 visa under the Temporary Residence Transition Stream, the immigration department may ask the sponsor to provide evidence to prove that the 457 holder/186 nominee has been performing the approved duties and tasks as set out in the approved Position Description since the 457 holder/186 nominee has commenced employment with the sponsor. A work reference letter from the sponsor alone is normally not considered sufficient evidence under these circumstances. Our services A well-written Position Description not only helps ensure success of a 457 nomination application and compliance of sponsorship obligations, but also assures a smooth transition from a temporary visa to a permanent residency. Our professional team will work closely with both sponsors and visa applicants to help ensure your Position Description meets legal and policy requirements as well as the need of the business. If you would like to learn more about your entitlements, visa conditions, or sponsorship obligations as a 457 holder or sponsor, please do not hesitate to contact our firm. See more

03.01.2022 Issues with Homemade Wills Homemade wills often have many problems including: 1. Problems with signing and witnessing...Continue reading

02.01.2022 The AmberAffair

01.01.2022 Melbourne Cup 2018