News, Updates and information from and about Smokeball.
February 9, 2012 Leave a comment
Division 7A Loan Agreements by Kalde & Associates discusses the formal requirements of the ATO for a complying loan agreement for the purpose of Division 7A of the Income Tax Assessment Act 1936.
View the Division 7A Loan Agreements
February 2, 2012 Leave a comment
A new addition to Smokeball, Buy Sell Agreements by Kalde & Associates explains clearly and concisely what a Buy Sell Agreement is and discusses the characteristics, mechanism, purpose, structure, funding and CGT implications. Three detailed and easy to use precedents are also included:
1. Buy Sell Agreement
2. Buy Sell Agreement with Corporate Trustees, Unit Trust
3. Buy Sell Funding Agreement
View the Buy Sell Agreements on Smokeball
January 27, 2012 1 Comment
The Personal Property Security Act 2009
Many practitioners have expressed worries as to how the new legislation will affect them and fears that they will overlook actions they should take.
This is written to assist in quelling those fears.
September 21, 2011 Leave a comment
In ‘PPSA: The Ultimate Transition Guide’ I flagged some amendments that were progressing through Federal Parliament when I was in the final stages of writing parts of it. I mentioned in Chapter 1 (Introduction and Statement of Purpose) that this put me in a quandary – whether to publish without the amendments or to delay publication while the amendments were passed and the manuscript was updated in a number of places. The publication process made the latter alternative fairly unattractive, so I took a middle ground and flagged the rules that were expected to change. Read more of this post
September 6, 2011 Leave a comment
A scant month ago, I reminded you about the importance of getting your clients ready for the commencement of the PPSA – that is, the Personal Property Securities Act.
The PPS Communications and Stakeholder Engagement Team in the AG’s Department had said not long previously that they were committed to working to a registration commencement time of 31 October 2011. I said to lock that date into your mind and reminded you that leaving everything to the last moment simply doesn’t make sense. Read more of this post
August 24, 2011 Leave a comment
I’ve had a few questions recently about whether I plan to offer some PPSA precedent documents through Smokeball. Read on, and you’ll see that I do have some relatively limited plans to do so. But some of the questions set me thinking that there may be some basic misconceptions about what the PPSA does and does not cause to happen. And the consequences. Read more of this post
August 1, 2011 Leave a comment
As you probably already know, the PPSA – the Personal Property Securities Act 2009 (Cth) – is a single national law governing security interests in personal property. It’ll regulate all kinds of security interests in (virtually) all kinds of personal property. It addresses the complexity of over 70 Commonwealth, State and Territory laws, common law rules and rules of equity by replacing them with a single set of relatively straightforward rules. Read more of this post
July 4, 2011 Leave a comment
If you’ve managed to avoid the acronym ‘PPSA’ so far – it stands for Personal Property Securities Act – you’re not likely to be able to do so for much longer. It’s hard to think of a practice area that doesn’t relate in some way, at least sometimes, to personal property and potential claims to it.
If you’ve got commercial or consumer finance clients, lending against any property other than real property, you’ll likely already know that you’re going to have to come to grips with the PPSA soon. Maybe you’re already there. If your clients only lend against real property security though, are you sure that the PPSA isn’t going to be relevant to you? Read more of this post
