Our Guides

We’ve aimed to answer some essential questions, and help you make some informed choices. We hope you find our guides useful.

BUYING A BUSINESS GUIDE

Stakeholders Agreements – The Business Will

Just as important as choice of partner, is the agreement that sets out the rules. A good stakeholder agreement (whether it be a partnership agreement, shareholder agreement or unit holders agreement) should cover:-

  • Management – who’s the boss (CEO) who manages sales, production & delivery;
  • Debt & equity – how much is everyone comfortable borrowing, and how much must everyone contribute?;
  • Salaries – how much can each partner draw? Is it even or equitable? What about silent partners and investors?
  • Exit Strategies – what kind of levers can partners pull to exit without destroying the business? Rights of first refusal, options, share buyouts, valuations?
  • Key person insurance – what happens to the business if the key person is permanently incapacitated or even killed? Will you end up in business with your partner’s family? …………

for more read our guide below here

ESTATE PLANNING GUIDE

Is it really that bad if I die without a will?

If you die intestate – without a will – your assets will be distributed in accordance with the Succession Act by the State Government appointed Public Trustee, which can be a costly process and may not be how you want your assets distributed. Those assets might even end up with the State……

Read more in our Guide below

HAMILTON ISLAND GUIDE

Transfer duty – does it apply on hamilton island

Whether usual transfer duty applies to your transaction at usual rates depends on the type of property you are buying.

The Law in Queensland provides:-

  • A buyer must pay transfer duty on Dutiable Property being transferred;
  • Shares in companies are not dutiable property, but other assets like units, houses and land are.

If the value of the asset you’re buying attaches to a bundle of share being transferred, then the duty you will pay will be nominal, it at all. If the value of the asset you are buying attaches to a sublease or sub-sublease, then the transfer duty will apply at the applicable rate as it would in any other land or unit transaction……..

For more read our Guide below

BUYING PROPERTY IN QUEENSLAND GUIDE

Insurance & Risk

The property is at your risk 24 hours after the contract date, so it is critical that you talk to your broker about putting some insurance cover in place immediately. Although the seller has to take reasonable care of the property between contract date and settlement, you cannot force them to repair any accidental damage between the contract date and settlement date…………

For more read our Guide below

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