Estate Group update: Royal Commission calls for urgent reform in aged care industry
On 31 October 2019, the Royal Commission into Aged Care Quality and Safety published its scathing interim report, titled ‘Neglect’. Our latest Estate Group update looks at the three key areas identified by the Commission in their interim report where urgent action must be taken.
Estate Group update: Testamentary trusts remain essential
Aside from asset protection, one of the primary benefits of a testamentary trust in a will is the ability to split the income generated by the trust between family members. Our latest Estate Group update looks briefly at the Treasury Laws Amendment (Measures for Consultation) Bill 2019 and recommends that testamentary trusts only be used for assets that formed part of the deceased estate, as trusts established pre 1 July 2019 will still be subject to anti-avoidance legislation.
Property update: Proposed changes to the Retail Leases Act
Last week, the Retail Leases Amendment Bill 2019 (the Bill) was introduced to the Victorian Parliament. If passed, the Bill will make substantial changes to the law relating to retail leases in Victoria. Some of those changes will benefit landlords and others will benefit tenants.