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Rule 42.1.6 of the Solicitors' Rules

Published on 25 Mar 2013 | Took place at Saxons, Sydney, NSW

    The time for compliance with Rule 42.1.6 for 2013 is fast approaching.
  • Are you a solicitor practising in the tax area?
  • Have you addressed your obligations under Rule 42.1.6 of the Solicitors Rules?
  • Where applicable to your practice these sessions should satisfy the requirements of Rule 42.1.6.
    This seminar was designed to satisfy the requirements of Rule 42.1.6 of the Solicitors Rules. Topics covered included:
  • The issues you face if a Client confides in you that they think they have committed tax fraud
  • Managing the process in Limited Recourse Borrowing Arrangements by SMSFs
  • Practical Problems caused by the Personal Property Security Act

Get a 20% discount when you buy all the items from this event.

Individual sessions

Managing the process of limited recourse borrowing arrangements by SMSFs presentation

Author(s):  Lisa ODDO

The implementation of a LRBA by an SMSF is a very complex transaction since there are a minefield of issues and traps which need to be considered. The successful implementation of these arrangements requires the practitioner to be up to date and on top of their game. Getting it wrong can have devastating consequences.

This paper covers:

  • practical issues, common errors and traps with implementation
  • the role of the accountant, lawyer, financier and financial planner
  • overview of the recently finalised SMSFR 2012/1
  • loan and security documents and dealing with the financier
  • new stamp duty concessions and dealing with the OSR.
Materials from this session:

Practical problems caused by the Personal Property Security Act (PPSA)

Author(s):  Michael BENNETT

From 30 January 2012 the Personal Property Security Act 2009 (Cth) (‘PPS Act’) fundamentally alters the operation of the law relating to non-land security interests and affects related transactions. It affects all of your clients who have non-land assets or any security interests.

It is a national regime which provides for the registration of security interests over personal property and the provisions significantly impact on the operation of general commercial and contract law principles. The PPS Act captures commercial transactions which would previously not have been treated as registerable security arrangements – such as retention of title arrangements and commercial consignments.

As a result, it is essential that advisers who are involved with commercial transactions understand the scope and reach of the PPS Act.

This paper considers the fundamentals of the PPS Act, such as the concepts of ‘security interests’, ‘attachment’, ‘perfection’ and ‘purchase money security interests’. Regard is also given to the practical implications of the PPS Act in the context of some common commercial transactions and arrangements.

Materials from this session:

The issues you face if a client confides in you that they think they have committed tax fraud

Author(s):  David Williams

This paper considers:

  • the ethical issues
  • the legal issues
  • the professional body issues
  • the ATO issues
  • some comments and suggestions on approaching the matter other than simply sacking the client.
Materials from this session: