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Published on 13 Mar 13
by NATIONAL DIVISION, THE TAX INSTITUTE
The use of a power of attorney is often very important in the context of effecting/completing a commercial transaction or in the context of ensuring that a vacuum does not arise over commercial decisions. This paper covers:
what are the legal requirements?
who can be the attorney of a power of attorney?
the difference between irrevocable and revocable powers of attorney and common law powers of attorney and enduring powers of attorney
duties of an attorney
the impact of a loss of capacity by the donor
appointment of attorneys by trustees and companies
where it is permissible to use a power of attorney inthe context of an SMSF.
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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