Asset protection paper

Published on 19 Jul 13 by QUEENSLAND DIVISION, THE TAX INSTITUTE

With litigation becoming more common, more complex family arrangements and different business structures require an increased focus on protection and preservation of clients’ wealth. This paper highlights the key factors for practitioners to assist clients in protecting their assets from family disputes and trustees in bankruptcy including:

• family asset protection
• Kennon v Spry and subsequent cases
• personal asset protection vs business assets and business continuity impact
• powers of Attorney, inheritance rules, CGT and testamentary trusts.

Author profile

Brian Richards CTA

Brian of Richards Advisory has specialised in providing taxation advice to accounting and legal practitioners in respect of a wide range of business clients for approximately 40 years. His particular taxation specialty areas include business restructuring, intellectual property transactions, CGT issues and tax planning matters. As a taxation specialist, Brian has extensive academic and other lecturing experience. - Current at 04 January 2018

More by Brian J RICHARDS

• Small business CGT case study paper - 18-March-2015
• Small business CGT case study paper - 23-October-2014
• Small business CGT concessions - The technical & practical issues paper - 10-October-2014
• Private companies and the small business CGT concessions paper - 23-July-2014
• Year end issues for discretionary trusts - 21-May-2014
• Ensuring access to small business CGT concessions paper - 22-October-2013
• Asset protection paper - 06-August-2013
• When your SME client sells assets from a trust paper - 26-April-2013
• Is your trust fixed - and why it matters paper - 09-October-2012
• CGT Roadshow workbook - 03-September-2012
• Small business CGT concessions paper - 21-September-2011
• Living with Division 7A paper - 02-June-2011
• 2010 CGT roadshow workbook paper - 28-July-2010
• Structuring SMEs is there a business structure that provides all of the taxation answers to the following and other factors paper? - 03-June-2010
• Choosing a business entity paper - 05-November-2007
• CGT 2007 National Roadshow paper - 06-September-2007
• The accidental developer paper - 21-September-2006
• Property workshop - 21-September-2006
• What if the top marginal tax rate drops to 30%? paper - 18-May-2006
• Structuring to maximise access to CGT concessions paper - 10-February-2006
• Distributions from trusts seminar paper - 28-September-2005
• Retiree investment structures (outside superannuation) paper - 08-April-2005
• Choosing a business structure seminar paper - 19-November-2004
• Structuring for Business and Investment: The Birth seminar paper - 26-February-2004
• How do you deal with the regular tax problems? - 07-August-2002
• Professional practice issues - 18-September-2001
• Business Structuring Issues - The Birth - 13-July-2001
• Partnerships - 04-July-2001
• GST for the accountant and the lawyer - 26-July-1999
• GST - its impact on property transactions - 26-July-1999

Click here to expand/collapse more articles by Brian J RICHARDS.