Welcome to another edition of The OHL Wire! The New Year will see amended and new legislation implemented in Australia. This new legislation will affect Australians, just like yourself, on a daily basis. In Issue 18 of The OHL Wire will observe, explore and explain a number of these new laws to help you grasp and understand the magnitude of them. Furthermore, we will also explain the steps that must be taken straight after a car accident to reduce your liability. Secondly, we provide you with tips on how to avoid inheritance disputes and finally, discuss the impact of Uber being legalised in NSW. We will also give you a round-up of family events and things to do in Sydney this month.
The document discusses changes to the UK tax-free childcare scheme. The introduction has been delayed until 2017 following a Supreme Court challenge. This gives employed workers more time to assess the financial implications as many may be disadvantaged under the new scheme. It also provides relief for expectant parents who would have otherwise missed out on childcare vouchers. The maximum amount that can be earned tax-free from renting out rooms in your home will increase to £7,500 per year from April 2016.
The document summarizes key announcements from the UK government's 2014 Autumn Statement regarding personal taxes, the economy, jobs, education, borrowing, health, travel, and property taxes. Specifically, it discusses:
- Increases to the personal tax allowance and higher rate tax band.
- Projections for GDP growth between 2.2-2.4% through 2019 and inflation between 1.2-1.7% through 2016.
- Plans for reducing the deficit and unemployment rates.
- Reforms to stamp duty land tax to introduce marginal tax rates.
- Additional funding for the NHS and measures to support carers and students.
The document discusses several topics:
1) The new Lifetime ISA (LISA) being introduced in 2017 aims to help young people save for both a first home and retirement by allowing contributions of up to £4,000 per year with a 25% government bonus.
2) Under the LISA, savings and bonuses can be withdrawn tax-free from age 60 or to purchase a first home worth up to £450,000. Contributions can be made until age 50.
3) Brexit may impact financial markets in the short-term ahead of the June 23rd EU referendum, but constant changes based on short-term events is generally counterproductive for long-term investment. The impacts of either
The summary highlights key proposals from the 2016 Federal Budget related to taxation that may impact individuals, investors, and business owners. Some of the key proposals include replacing the Canada Child Tax Benefit and Universal Child Care Benefit with a new Canada Child Benefit, eliminating the income splitting credit, phasing out the children's fitness and arts tax credits, and enhancing Old Age Security and the Guaranteed Income Supplement. The budget also proposes changes to taxation of mutual fund corporations, small business deductions, and capital gains treatment of donations of private corporation shares or real estate.
The document discusses several pieces of proposed legislation in the US 110th Congress related to labor, employment, health care and immigration. It outlines new laws expanding family medical leave to care for injured service members, prohibiting genetic information discrimination, and barring employment discrimination based on sexual orientation. It also addresses potential costs of legislative changes to minimum wage, paid leave, menu labeling and other regulations for businesses.
De Pere Area Chamber Affordable Care Act Presentation, JP Wieski, Wisconsin OCICheryl Detrick
Presentation on the Affordable Care Act given by J.P. Wieski, Legislative Liaison/Public Information Officer from the Office of the Commissioner of Insurance, State of Wisconsin to De Pere Area Chamber of Commerce on 9/11/13.
This document discusses recent changes and upcoming requirements under the Patient Protection and Affordable Care Act (ACA). It provides an implementation schedule and summarizes changes taking effect in 2013 and 2014. In 2013, health plans must notify participants about upcoming insurance exchanges and flexible spending account limits will be $2,500. In 2014, requirements include establishing state insurance exchanges, penalties for large employers not offering coverage, minimum coverage standards for employer plans, and penalties for individuals without insurance. The document also discusses challenges and issues around viability, state exchange conflicts, and IRS enforcement of individual mandates.
The document discusses changes to the UK tax-free childcare scheme. The introduction has been delayed until 2017 following a Supreme Court challenge. This gives employed workers more time to assess the financial implications as many may be disadvantaged under the new scheme. It also provides relief for expectant parents who would have otherwise missed out on childcare vouchers. The maximum amount that can be earned tax-free from renting out rooms in your home will increase to £7,500 per year from April 2016.
The document summarizes key announcements from the UK government's 2014 Autumn Statement regarding personal taxes, the economy, jobs, education, borrowing, health, travel, and property taxes. Specifically, it discusses:
- Increases to the personal tax allowance and higher rate tax band.
- Projections for GDP growth between 2.2-2.4% through 2019 and inflation between 1.2-1.7% through 2016.
- Plans for reducing the deficit and unemployment rates.
- Reforms to stamp duty land tax to introduce marginal tax rates.
- Additional funding for the NHS and measures to support carers and students.
The document discusses several topics:
1) The new Lifetime ISA (LISA) being introduced in 2017 aims to help young people save for both a first home and retirement by allowing contributions of up to £4,000 per year with a 25% government bonus.
2) Under the LISA, savings and bonuses can be withdrawn tax-free from age 60 or to purchase a first home worth up to £450,000. Contributions can be made until age 50.
3) Brexit may impact financial markets in the short-term ahead of the June 23rd EU referendum, but constant changes based on short-term events is generally counterproductive for long-term investment. The impacts of either
The summary highlights key proposals from the 2016 Federal Budget related to taxation that may impact individuals, investors, and business owners. Some of the key proposals include replacing the Canada Child Tax Benefit and Universal Child Care Benefit with a new Canada Child Benefit, eliminating the income splitting credit, phasing out the children's fitness and arts tax credits, and enhancing Old Age Security and the Guaranteed Income Supplement. The budget also proposes changes to taxation of mutual fund corporations, small business deductions, and capital gains treatment of donations of private corporation shares or real estate.
The document discusses several pieces of proposed legislation in the US 110th Congress related to labor, employment, health care and immigration. It outlines new laws expanding family medical leave to care for injured service members, prohibiting genetic information discrimination, and barring employment discrimination based on sexual orientation. It also addresses potential costs of legislative changes to minimum wage, paid leave, menu labeling and other regulations for businesses.
De Pere Area Chamber Affordable Care Act Presentation, JP Wieski, Wisconsin OCICheryl Detrick
Presentation on the Affordable Care Act given by J.P. Wieski, Legislative Liaison/Public Information Officer from the Office of the Commissioner of Insurance, State of Wisconsin to De Pere Area Chamber of Commerce on 9/11/13.
This document discusses recent changes and upcoming requirements under the Patient Protection and Affordable Care Act (ACA). It provides an implementation schedule and summarizes changes taking effect in 2013 and 2014. In 2013, health plans must notify participants about upcoming insurance exchanges and flexible spending account limits will be $2,500. In 2014, requirements include establishing state insurance exchanges, penalties for large employers not offering coverage, minimum coverage standards for employer plans, and penalties for individuals without insurance. The document also discusses challenges and issues around viability, state exchange conflicts, and IRS enforcement of individual mandates.
Families with children will be significantly impacted by recent reforms to the UK tax and benefits system. The document analyzes changes that will reduce support for new families, struggling working families, and large low-income families. Key reforms that will reduce incomes include restrictions to child tax credits and benefits, a freeze in child benefit rates, and an increase in hours required to claim working tax credits. The reforms are estimated to affect over 3 million families and remove over £3 billion in support from the system annually. Several policy concerns are also raised around the potential rise in child poverty and the erosion of universal benefits.
The document summarizes the impact of the proposed Harmonized Sales Tax (HST) in British Columbia on individuals, businesses, and First Nations communities. Key points include:
- The HST combines the federal GST and provincial PST into a single 12% tax. Businesses will be able to claim input tax credits to recover taxes paid on business purchases.
- For individuals and businesses, some goods like children's clothing will receive rebates. Restaurant meals and new housing will now be taxed. Tax credits will help offset the impact on low-income residents.
- First Nations, Indians, and goods/services on reserves will continue to be exempt as under the GST. The HST will
The document provides a summary of the key provisions and implementation timelines of the Affordable Care Act (ACA) health reform legislation passed by Congress and signed into law by President Obama in 2010. It outlines what is required in the immediate future in 2010, as well as changes phased in between now and 2014 such as establishing insurance exchanges, essential benefits packages, and penalties for individuals and employers who do not obtain qualified health insurance coverage. The summary concludes by encouraging questions and feedback from readers to help with understanding and implementing the complex health reform law.
Attached is an excellent, easy to read newsletter summarizing the important changes, legislative extensions, and issues relating to your individual tax return for 2009 and beyond. Please read it well before 12/31 as there are items that need to be considered or acted upon before the end of this year to take full advantage of the legislation. It’s the best one I’ve come across. Its current and includes some commentary, planning suggestions, and even some health care issues as they relate to your taxes.
I will later post a copy of year end letters for both businesses and individuals that my clients receive.
If you should have any questions at this time on any of these items, please contact me anytime.
Thanks
Wally Wleklinski
Horner Downey & Company Ltd Autumn Statement 2016Jenny Ferguson
The Chancellor Philip Hammond presented his first fiscal statement after Brexit, acknowledging economic challenges ahead. The latest forecasts confirm increased borrowing of £68.2bn for 2016 and slower growth of 2.1% in 2016 but reducing to 1.4% in 2017 due to Brexit. Hammond announced replacing the aim of balancing the budget by 2020 with a pledge for a surplus as early as possible in the next parliament. He also announced a new £23bn National Productivity Investment Fund to boost infrastructure, innovation, R&D, and housing. The statement included measures for businesses and individuals, such as reducing the corporation tax rate to 17% by 2020 and increasing the personal tax allowance to £12,500 by 2020.
The document provides answers to frequently asked questions about the new US health care reform laws. Some key points:
- Major provisions of the laws will be phased in between 2010-2020, with many taking effect in 2014.
- Beginning in 2014, all citizens must have qualifying health insurance or pay a tax penalty.
- Starting in 2014, individuals and small businesses can purchase qualified coverage through state-based insurance exchanges.
- Employers with over 50 employees that do not offer coverage will face penalties starting in 2014.
- High-risk individuals unable to get coverage due to preexisting conditions will have access to a federal program until 2014.
- Preventive care must be covered without co
Health Reform Policy and Information UpdateTom Daly
The document discusses key provisions of the Affordable Care Act, including the individual mandate, health insurance exchanges, essential health benefits, Medicaid expansion, and the employer mandate. It provides details on eligibility and requirements for the individual mandate, health insurance exchanges, and employer mandate. The document also outlines goals and funding mechanisms for expanding health insurance coverage.
Economic alliance health care reform update march 5-2013Michelle Hundley
The document summarizes upcoming changes to health care reform regulations beginning in 2013, including limits on flexible spending accounts, new reporting requirements for employers, comparative effectiveness research fees, exchange notices for employees, individual mandates, employer pay or play rules, and independent contractor classifications. It also outlines additional reforms taking effect in 2014, such as state health insurance exchanges, premium subsidies, individual and employer mandates, rating limits, and cost sharing limits.
This document summarizes the key details from Ireland's 2017 Budget Statement, including:
- Income tax credits and rates remaining unchanged from 2016.
- Introduction of a new Fisher tax credit for 2017-2021 and changes to the Home Carer and Rent-a-Room tax credits.
- Amendments to Universal Social Charge (USC) thresholds and rates.
- Extensions to various incentive programs like the Home Renovation Incentive and Special Assignee Relief Programme.
- No changes to corporation tax or PRSI rates.
The document provides an overview of key provisions and timelines in the Senate healthcare reform bill that was passed in 2010:
- Individuals can keep current health policies on a grandfathered basis until 2014 when state health insurance exchanges will be set up.
- Small businesses are eligible for tax credits to help pay employee premiums starting in 2010.
- Several new consumer protections and benefit requirements go into effect for plans in 2010-2014, including coverage of preexisting conditions for children, preventive care with no cost sharing, and allowing adult children to stay on parents' plans until age 26.
- Health insurance exchanges with standardized plans will be set up in each state starting in 2014, along with penalties for individuals
The new state pension system that began on April 6, 2016 replaces the old two-part pension with a single flat-rate payment of £155.65 per week. To receive the full amount, a person must have 35 years of National Insurance contributions; the minimum to receive any payment is 10 years. Some people who built up higher amounts under the old system can receive additional protected payments on top of the £155.65 weekly rate.
This document provides an overview and update on upcoming health care reform provisions taking effect in 2014. Key points include:
- Beginning in 2014, employer-sponsored plans must limit waiting periods to 90 days and annual out-of-pocket costs. Essential health benefits must also be covered.
- Health insurance exchanges will be available for individuals and small businesses to purchase coverage. Employers with 50+ employees face potential penalties if not offering affordable coverage.
- Annual limits and preexisting condition exclusions will be prohibited. Premium subsidies and an individual mandate also take effect. Small business tax credits are available.
- Wellness program incentives are increasing. Expanded Medicaid coverage was ruled unconstitutional but other provisions remain on track for 2014 implementation
The Affordable Care Act expands Medicaid eligibility to 138% of the federal poverty level and creates health insurance exchanges for individuals and small businesses to purchase insurance. It also establishes regulations on private health plans such as requiring them to cover pre-existing conditions and limiting premium variation. Additionally, the law mandates that most individuals obtain health insurance by 2014 or pay a penalty, while providing subsidies to make coverage more affordable. The Kaiser Family Foundation provides an overview of these key provisions of the Affordable Care Act.
How to Avoid a Head-on Collision with The Cadillac TaxBill Conlan
The document discusses the Cadillac tax provision of the Affordable Care Act. It will impose a 40% excise tax on employer-sponsored health plans with premiums above $10,200 for individual coverage and $27,500 for family coverage beginning in 2018. Many provisions of the ACA will contribute to rising health care costs and make it challenging for employers to avoid this tax. Employers are encouraged to continuously monitor health care costs, consider plan design changes, and weigh options like self-funding to manage costs and delay impacts of the Cadillac tax.
Federal budget guide 2018 mazars australia_9th mayRickard Wärnelid
Mr Scott Morrison, the Federal Treasurer, has handed down his third Budget on 8 May 2018. Mr Morrison said the Budget is focused on further strengthening the economy to “guarantee the essentials Australians rely on” and “responsibly repair the budget”.
With a deficit of $18.2b in 2017/18 and $14.5b in 2018/19, the Budget is forecast to return to a balance of $2.2b in 2019/20 and a projected surplus of $11b in 2020/21.
The government is proposing a three-step, seven-year plan to make personal income tax “lower, fairer and simpler”. The Budget also contains additional measures to counter the black economy, particularly in response to the final report from the Black Economy Taskforce, including expanding the taxable payments reporting system. Additionally, the Budget contains a range of measures intended to ensure the integrity of the tax and superannuation system.
The document discusses strategies for end-of-year retirement planning in 2006 based on new laws. It summarizes opportunities for contributing to IRAs until 2010 and converting traditional IRAs to Roth IRAs. It also discusses finding forgotten pension benefits from former employers by searching the Pension Benefit Guaranty Corporation or contacting the Social Security Administration.
The Pensions Advisory Service - saving for retirementcoussey
This document provides information about saving for retirement and the Pensions Advisory Service. It discusses the state pension and why it may not be enough to rely on alone given increasing lifespans. It encourages private saving through workplace pensions or personal pensions to help ensure adequate retirement income. The Pensions Advisory Service can provide free advice and help to the public on pension matters.
This document provides information about the tax consequences of the Affordable Care Act for individuals. It discusses two new taxes enacted by the ACA - the additional 0.9% Medicare tax on wages and self-employment income and the 3.8% Net Investment Income Tax. It explains how to report minimum essential health coverage, exemptions from the coverage requirement, and how to calculate the individual shared responsibility payment for those without qualifying coverage.
Health Reform Bulletin 116 Year End Wrap Up 12-29-15Daniel Michels
The most recent CBIZ Health Reform Bulletin: Year-End Wrap Up (HRB 116). This issue includes specific information and guidance on:
1. Late breaking development, IRS delays new Affordable Care Act's (ACA) reporting and disclosure obligations!
2. On December 18, 2015 Consolidate Appropriations Act, 2016, and the Protecting Americans from Tax Hikes (PATH) Act of 2015 (H. R. 2029; now Public Law No. 114-113) were signed by the President, and amend several provisions of the Affordable Care Act.
3. The IRS Issued guidance relating to ACA implementation
4. Year-End Reminders
The document discusses several topics related to retirement planning and pensions, including:
1) The upcoming changes to the lifetime pension allowance, which will be reduced from £1.25 million to £1 million starting in April 2016. This could result in additional tax charges for those with pension savings above the new allowance.
2) Options for taking advantage of the current higher lifetime allowance amount, such as starting to take pension withdrawals before April 2016.
3) Ways to potentially avoid tax charges on pension savings exceeding the lifetime allowance, such as using the "small pot rule" to withdraw small pension pots tax-free or contributing to a SIPP for more flexible tax treatment.
4) The importance of seeking
The document discusses several topics related to personal finance planning including:
1) Annual paper tax forms in the UK will be replaced with digital tax accounts by 2020 that individuals and small businesses can access online anytime. This is aimed to make paying taxes easier.
2) A guide is provided on common pension terminology like annuity, lifetime allowance, and defined contribution to help understand retirement planning.
3) New rules allow individuals greater flexibility in how they withdraw money from their pension pot including taking it as a tax-free lump sum, through drawdown, or as lump sums taxed at 25%.
The document discusses several topics related to pensions and retirement planning. It introduces articles on the new state pension age of 68, how this will affect retirement plans. It also mentions an article on managing pension savings efficiently from a single pot. Another article discusses investing for income and how behavioral traits influence decision making. The document provides summaries of additional articles on pension freedoms, shopping around for better pension deals, and long-term investing to fund retirement.
Families with children will be significantly impacted by recent reforms to the UK tax and benefits system. The document analyzes changes that will reduce support for new families, struggling working families, and large low-income families. Key reforms that will reduce incomes include restrictions to child tax credits and benefits, a freeze in child benefit rates, and an increase in hours required to claim working tax credits. The reforms are estimated to affect over 3 million families and remove over £3 billion in support from the system annually. Several policy concerns are also raised around the potential rise in child poverty and the erosion of universal benefits.
The document summarizes the impact of the proposed Harmonized Sales Tax (HST) in British Columbia on individuals, businesses, and First Nations communities. Key points include:
- The HST combines the federal GST and provincial PST into a single 12% tax. Businesses will be able to claim input tax credits to recover taxes paid on business purchases.
- For individuals and businesses, some goods like children's clothing will receive rebates. Restaurant meals and new housing will now be taxed. Tax credits will help offset the impact on low-income residents.
- First Nations, Indians, and goods/services on reserves will continue to be exempt as under the GST. The HST will
The document provides a summary of the key provisions and implementation timelines of the Affordable Care Act (ACA) health reform legislation passed by Congress and signed into law by President Obama in 2010. It outlines what is required in the immediate future in 2010, as well as changes phased in between now and 2014 such as establishing insurance exchanges, essential benefits packages, and penalties for individuals and employers who do not obtain qualified health insurance coverage. The summary concludes by encouraging questions and feedback from readers to help with understanding and implementing the complex health reform law.
Attached is an excellent, easy to read newsletter summarizing the important changes, legislative extensions, and issues relating to your individual tax return for 2009 and beyond. Please read it well before 12/31 as there are items that need to be considered or acted upon before the end of this year to take full advantage of the legislation. It’s the best one I’ve come across. Its current and includes some commentary, planning suggestions, and even some health care issues as they relate to your taxes.
I will later post a copy of year end letters for both businesses and individuals that my clients receive.
If you should have any questions at this time on any of these items, please contact me anytime.
Thanks
Wally Wleklinski
Horner Downey & Company Ltd Autumn Statement 2016Jenny Ferguson
The Chancellor Philip Hammond presented his first fiscal statement after Brexit, acknowledging economic challenges ahead. The latest forecasts confirm increased borrowing of £68.2bn for 2016 and slower growth of 2.1% in 2016 but reducing to 1.4% in 2017 due to Brexit. Hammond announced replacing the aim of balancing the budget by 2020 with a pledge for a surplus as early as possible in the next parliament. He also announced a new £23bn National Productivity Investment Fund to boost infrastructure, innovation, R&D, and housing. The statement included measures for businesses and individuals, such as reducing the corporation tax rate to 17% by 2020 and increasing the personal tax allowance to £12,500 by 2020.
The document provides answers to frequently asked questions about the new US health care reform laws. Some key points:
- Major provisions of the laws will be phased in between 2010-2020, with many taking effect in 2014.
- Beginning in 2014, all citizens must have qualifying health insurance or pay a tax penalty.
- Starting in 2014, individuals and small businesses can purchase qualified coverage through state-based insurance exchanges.
- Employers with over 50 employees that do not offer coverage will face penalties starting in 2014.
- High-risk individuals unable to get coverage due to preexisting conditions will have access to a federal program until 2014.
- Preventive care must be covered without co
Health Reform Policy and Information UpdateTom Daly
The document discusses key provisions of the Affordable Care Act, including the individual mandate, health insurance exchanges, essential health benefits, Medicaid expansion, and the employer mandate. It provides details on eligibility and requirements for the individual mandate, health insurance exchanges, and employer mandate. The document also outlines goals and funding mechanisms for expanding health insurance coverage.
Economic alliance health care reform update march 5-2013Michelle Hundley
The document summarizes upcoming changes to health care reform regulations beginning in 2013, including limits on flexible spending accounts, new reporting requirements for employers, comparative effectiveness research fees, exchange notices for employees, individual mandates, employer pay or play rules, and independent contractor classifications. It also outlines additional reforms taking effect in 2014, such as state health insurance exchanges, premium subsidies, individual and employer mandates, rating limits, and cost sharing limits.
This document summarizes the key details from Ireland's 2017 Budget Statement, including:
- Income tax credits and rates remaining unchanged from 2016.
- Introduction of a new Fisher tax credit for 2017-2021 and changes to the Home Carer and Rent-a-Room tax credits.
- Amendments to Universal Social Charge (USC) thresholds and rates.
- Extensions to various incentive programs like the Home Renovation Incentive and Special Assignee Relief Programme.
- No changes to corporation tax or PRSI rates.
The document provides an overview of key provisions and timelines in the Senate healthcare reform bill that was passed in 2010:
- Individuals can keep current health policies on a grandfathered basis until 2014 when state health insurance exchanges will be set up.
- Small businesses are eligible for tax credits to help pay employee premiums starting in 2010.
- Several new consumer protections and benefit requirements go into effect for plans in 2010-2014, including coverage of preexisting conditions for children, preventive care with no cost sharing, and allowing adult children to stay on parents' plans until age 26.
- Health insurance exchanges with standardized plans will be set up in each state starting in 2014, along with penalties for individuals
The new state pension system that began on April 6, 2016 replaces the old two-part pension with a single flat-rate payment of £155.65 per week. To receive the full amount, a person must have 35 years of National Insurance contributions; the minimum to receive any payment is 10 years. Some people who built up higher amounts under the old system can receive additional protected payments on top of the £155.65 weekly rate.
This document provides an overview and update on upcoming health care reform provisions taking effect in 2014. Key points include:
- Beginning in 2014, employer-sponsored plans must limit waiting periods to 90 days and annual out-of-pocket costs. Essential health benefits must also be covered.
- Health insurance exchanges will be available for individuals and small businesses to purchase coverage. Employers with 50+ employees face potential penalties if not offering affordable coverage.
- Annual limits and preexisting condition exclusions will be prohibited. Premium subsidies and an individual mandate also take effect. Small business tax credits are available.
- Wellness program incentives are increasing. Expanded Medicaid coverage was ruled unconstitutional but other provisions remain on track for 2014 implementation
The Affordable Care Act expands Medicaid eligibility to 138% of the federal poverty level and creates health insurance exchanges for individuals and small businesses to purchase insurance. It also establishes regulations on private health plans such as requiring them to cover pre-existing conditions and limiting premium variation. Additionally, the law mandates that most individuals obtain health insurance by 2014 or pay a penalty, while providing subsidies to make coverage more affordable. The Kaiser Family Foundation provides an overview of these key provisions of the Affordable Care Act.
How to Avoid a Head-on Collision with The Cadillac TaxBill Conlan
The document discusses the Cadillac tax provision of the Affordable Care Act. It will impose a 40% excise tax on employer-sponsored health plans with premiums above $10,200 for individual coverage and $27,500 for family coverage beginning in 2018. Many provisions of the ACA will contribute to rising health care costs and make it challenging for employers to avoid this tax. Employers are encouraged to continuously monitor health care costs, consider plan design changes, and weigh options like self-funding to manage costs and delay impacts of the Cadillac tax.
Federal budget guide 2018 mazars australia_9th mayRickard Wärnelid
Mr Scott Morrison, the Federal Treasurer, has handed down his third Budget on 8 May 2018. Mr Morrison said the Budget is focused on further strengthening the economy to “guarantee the essentials Australians rely on” and “responsibly repair the budget”.
With a deficit of $18.2b in 2017/18 and $14.5b in 2018/19, the Budget is forecast to return to a balance of $2.2b in 2019/20 and a projected surplus of $11b in 2020/21.
The government is proposing a three-step, seven-year plan to make personal income tax “lower, fairer and simpler”. The Budget also contains additional measures to counter the black economy, particularly in response to the final report from the Black Economy Taskforce, including expanding the taxable payments reporting system. Additionally, the Budget contains a range of measures intended to ensure the integrity of the tax and superannuation system.
The document discusses strategies for end-of-year retirement planning in 2006 based on new laws. It summarizes opportunities for contributing to IRAs until 2010 and converting traditional IRAs to Roth IRAs. It also discusses finding forgotten pension benefits from former employers by searching the Pension Benefit Guaranty Corporation or contacting the Social Security Administration.
The Pensions Advisory Service - saving for retirementcoussey
This document provides information about saving for retirement and the Pensions Advisory Service. It discusses the state pension and why it may not be enough to rely on alone given increasing lifespans. It encourages private saving through workplace pensions or personal pensions to help ensure adequate retirement income. The Pensions Advisory Service can provide free advice and help to the public on pension matters.
This document provides information about the tax consequences of the Affordable Care Act for individuals. It discusses two new taxes enacted by the ACA - the additional 0.9% Medicare tax on wages and self-employment income and the 3.8% Net Investment Income Tax. It explains how to report minimum essential health coverage, exemptions from the coverage requirement, and how to calculate the individual shared responsibility payment for those without qualifying coverage.
Health Reform Bulletin 116 Year End Wrap Up 12-29-15Daniel Michels
The most recent CBIZ Health Reform Bulletin: Year-End Wrap Up (HRB 116). This issue includes specific information and guidance on:
1. Late breaking development, IRS delays new Affordable Care Act's (ACA) reporting and disclosure obligations!
2. On December 18, 2015 Consolidate Appropriations Act, 2016, and the Protecting Americans from Tax Hikes (PATH) Act of 2015 (H. R. 2029; now Public Law No. 114-113) were signed by the President, and amend several provisions of the Affordable Care Act.
3. The IRS Issued guidance relating to ACA implementation
4. Year-End Reminders
The document discusses several topics related to retirement planning and pensions, including:
1) The upcoming changes to the lifetime pension allowance, which will be reduced from £1.25 million to £1 million starting in April 2016. This could result in additional tax charges for those with pension savings above the new allowance.
2) Options for taking advantage of the current higher lifetime allowance amount, such as starting to take pension withdrawals before April 2016.
3) Ways to potentially avoid tax charges on pension savings exceeding the lifetime allowance, such as using the "small pot rule" to withdraw small pension pots tax-free or contributing to a SIPP for more flexible tax treatment.
4) The importance of seeking
The document discusses several topics related to personal finance planning including:
1) Annual paper tax forms in the UK will be replaced with digital tax accounts by 2020 that individuals and small businesses can access online anytime. This is aimed to make paying taxes easier.
2) A guide is provided on common pension terminology like annuity, lifetime allowance, and defined contribution to help understand retirement planning.
3) New rules allow individuals greater flexibility in how they withdraw money from their pension pot including taking it as a tax-free lump sum, through drawdown, or as lump sums taxed at 25%.
The document discusses several topics related to pensions and retirement planning. It introduces articles on the new state pension age of 68, how this will affect retirement plans. It also mentions an article on managing pension savings efficiently from a single pot. Another article discusses investing for income and how behavioral traits influence decision making. The document provides summaries of additional articles on pension freedoms, shopping around for better pension deals, and long-term investing to fund retirement.
The document summarizes upcoming changes to the UK welfare system that will affect citizens in Nottingham. Key changes include the rollout of Universal Credit, which combines multiple benefits into a single monthly payment, a four-year freeze on increasing benefit rates, reduced benefit caps, and increases to the minimum wage for those over 25. The document outlines how local organizations are preparing citizens for the changes and providing support services around benefits advice, job opportunities, and affordable energy and loans.
This document discusses how life insurance strategies can help mitigate taxes and efficiently transfer wealth by moving excess capital from a taxable environment to a non-taxable one. It provides an example of a couple investing $100,000 annually for 10 years into a tax-exempt corporate owned whole life insurance policy, which would result in over $8.5 million in their total estate after tax, compared to around $1.6 million if they invested in a fixed income portfolio. The document stresses acting now given recent tax rate changes and upcoming changes to insurance legislation that will affect the tax benefits of such strategies.
This document summarizes key provisions and timelines of the US health reform legislation:
- Within the first year, young adults can stay on parents' insurance until 26 and seniors get assistance with Medicare drug costs. Insurance companies cannot deny or drop coverage for preexisting conditions.
- In subsequent years, requirements and provisions are phased in regarding insurance exchanges, Medicaid expansion, penalties for lacking coverage, and changes to employer and individual insurance rules and responsibilities.
- By 2018, an excise tax on high-cost health plans is implemented and nearly all major provisions of the legislation will be in effect.
The document summarizes key provisions of the US health reform law and how it will be implemented over time. Within the first year, young adults can stay on parents' insurance until age 26 and seniors will get prescription drug coverage assistance. By 2014, most Americans will be required to have health insurance or pay a penalty, health insurance exchanges will be set up, and Medicaid eligibility will expand. The reform establishes new rules and taxes for insurers and employers and seeks to expand coverage and accessibility of healthcare.
The document summarizes key components of health care reform in New York State. It discusses how the reform will affect those with and without current health insurance. Those with insurance will see new protections around lifetime/annual limits and preventive care coverage. Those without insurance will gain eligibility for Medicaid expansion or subsidies to purchase insurance through the new health insurance Exchange. The reform establishes new regulations for insurance companies and more funding for public health programs to increase coverage of New Yorkers. Full implementation will require ongoing outreach and for New York to establish the Exchange in accordance with federal guidelines.
Frequently asked questions about Obamacareexchangeenvoy
The document summarizes key provisions of the Affordable Care Act (ACA) related to health insurance exchanges, the individual mandate, employer penalties, and dependent coverage requirements. It explains that the ACA requires states to establish health insurance exchanges by 2014 to offer qualified health plans. It also outlines the individual mandate requiring most individuals to have minimum essential health coverage beginning in 2014, and penalties for employers not offering coverage. The ACA extends dependent coverage to age 26.
This document provides information about the Simply Cash health plan, including:
- Affordable monthly premiums from £5.50 for individual coverage up to £66 for a family, with six levels of increasing annual benefit limits.
- The plan reimburses 100% of dental and optical costs and 75% of costs for services like physiotherapy, up to the annual limit.
- Members can start claiming benefits immediately but hospital coverage excludes pre-existing conditions for 12 months.
Children's access to mental health services in Vermont depends on insurance eligibility and funding. Funding comes from federal grants and Medicaid, with agencies relying heavily on Medicaid reimbursements. The timeline for receiving services involves assessments, meetings, and individualized plans. Children may qualify for subsidized insurance like Dr. Dinosaur or Katie Beckett Medicaid depending on their needs and family income. Lack of access to services can negatively impact children, families, communities, and policymakers. Social workers should advocate for policies that support early intervention and reimburse agencies to improve outcomes.
The document provides an overview of the Affordable Care Act (ACA) including provisions already in effect and future provisions. It discusses requirements for insurers to spend high percentages of premium dollars on medical services, prescription drug discounts for seniors, and free preventive care for seniors. Upcoming provisions include tax credits for small businesses, increased funding for community health centers, and investments to increase the primary care workforce. The document aims to educate about how the ACA affects individuals and provide resources for further information.
Trudeaumania 2 and Trump Dynasty for Posting onlineMichael Bondy
Trudeaumania-2 and What's in Store for Us All
- Justin Trudeau wants to strengthen Canada's middle class through income-based programs that tax higher incomes and increase benefits for middle incomes.
- His approach involves larger public spending programs and deficits to "spend our way to happiness."
- However, Trudeau has moderated some of his policies since taking power and the future effects on taxpayers remain uncertain.
In Issue 11 of The OHL Wire, we look at what will change on 1 July 2015 and how does divorce affect your tax and super fund. We also look at everything you need to know about taxation and deceased estates in Australia. We discuss the rules and requirements for buying property through a self-managed super fund (SMSF) in NSW. We check out upcoming events in Sydney and provide you a few ideas on how to spend your tax refund as the tax year is coming to an end.
The document summarizes recent studies and trends related to rising healthcare costs in the US. It discusses projections that healthcare spending will grow faster than GDP over the next decade and account for 20% of national spending by 2020. It also outlines strategies that large employers are using to better manage costs, such as engaging employees in wellness programs, linking provider strategies to quality outcomes, and using health technology. Additional sections provide updates on provisions and guidelines under the Affordable Care Act.
The document discusses rising healthcare costs in the US and a new study projecting that health care spending will grow faster than GDP over the next decade. It also summarizes strategies that large employers are using to control costs, such as account-based health plans, engagement of employees in wellness programs, and accountability measures. Updates on the Affordable Care Act include expanded preventive coverage for women and guidelines for employer health subsidies in 2014.
The Affordable Care Act (Obamacare): The BasicsJeffrey A. Cook
The document summarizes the key provisions and timeline of the Affordable Care Act (ACA) for businesses and individuals. It outlines that by 2018, businesses with over 50 employees must provide health insurance where 95% of full-time employees are covered, or face penalties. It also mandates that all individuals have health insurance through state or federal exchanges, with penalties for non-compliance increasing each year. The document suggests using supplemental benefits from ProVantage to help individuals and employees save money on out-of-pocket costs for high deductible plans required by the ACA.
Syntaris is a Vancouver-based renewable energy company focused on developing run-of-river hydroelectric projects in British Columbia and Alaska. The company has aggregated a portfolio of over 622 megawatts of hydro projects at various stages of development. Syntaris aims to become a leading developer of small hydro projects in the Pacific Northwest by taking advantage of British Columbia's Standing Offer Program and clustering projects near existing transmission infrastructure to reduce costs. The equity capital raised in this offering will allow Syntaris to submit up to 263 megawatts of projects to the Standing Offer Program over the next three to four years.
New Child Support Law: How It May Affect Younlashway
The new bill reduces the number of overnights required for a parent to be considered as having substantial time-sharing from 40% to 20% of overnights per year. It also allows 100% of child care costs to be included in calculating child support, rather than the previous 75% limit. Additionally, the bill changes how and when income may be imputed for parents who are voluntarily unemployed or underemployed. These changes to Florida's child support laws take effect on January 1, 2011 and could provide a basis for modifying existing child support orders.
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The OHL Wire ISSUE 17: Off the Plan Purchase - NSW changes in response to sun...Christine Hui Jun Zhong
In Issue 17 of The OHL Wire, we look at some of the NSW changes in response to sunset date concerns in off the plan purchases and the employment law issues that need to be on your radar in 2016. We discuss whether a video message from the grave can be considered as evidence for a valid will. We also look at your rights as a beneficiary of a will and tips for reducing the time of a property settlement during Christmas and New Year Season in Australia. We also check out upcoming events in Sydney and provide you with the top 5 business trends for 2016.
In Issue 16 of The OHL Wire, we look at some legal tips for Christmas party behaviour at work and what defines the capacity to make a valid will in Australia. We also look at everything you need to know about the deadline for Christmas holiday child disputes and estate planning for the Christmas holiday. We discuss whether a claim can be made when a family member leaves their entire estate to charity. We check out upcoming events in Sydney and provide you the ultimate checklist for this year's Christmas.
One raid of 20 stores in September 2014 revealed that payroll may have been doctored and workers were being underpaid at the majority of 7-Eleven stores. It is said that as many as 60 percent of the stores investigated in the September raid were suspected of violating Fair Work Laws. That raid was just one of three investigations over a period of six years that allegedly identified more than 80 stores that were not paying their staff enough.
Franchisees and all owners and operators of business organizations need to understand what their obligations are under both immigration and fair work laws. Just paying above minimum award rates is not enough to avoid the potential for action, including an investigation by the Fair Work Ombudsman. Owen Hodge Lawyers can provide assistance to employers in following immigration rules, documenting employee hours and benefits, fulfilling payment and record-keeping obligations, and complying with all award rules. Call us on 1800 770 780 to schedule a consultation with one of our experienced lawyers.
The document provides information about estate planning for new parents. It discusses why new parents need estate planning given risks like unexpected death. The key components of an estate plan for new parents are identified as wills, guardianship arrangements, trusts, and life insurance. Real life examples are also presented that illustrate why estate planning can benefit families with young children.
If you have been physically or psychologically injured as a result of your defence service (including reservists and cadets), you may be able to claim for compensation. If you were a prisioner of war, you may be able to claim even if you were/are a civilian. In this presentation, we provide a broad overview of some of the types of compensation available for service-related injury or disease. This presentation does not cover compensation for dependents of people who have been in service.
There are many different types of compensation available to people who have been injured or incapacitated in Australia's defense forces. Similarly, the family members may be able to claim compensation for the death of a current or former members of the defense forces. If you believe that you should be able to claim compensation, then your first point of call will be to look at the information on the DVA's website. You are also welcome to call Owen Hodge Lawyers for an obligation free discussion of your situation. Call us today at 1800 770 780 or contact us via ohl@owenhodge.com.au to schedule a consultation with one of our experienced lawyers.
In Issue 12 of The OHL Wire, we look at how the rise in minimum wage affects you and what are the hidden costs of retirement villages in NSW. We also look at everything you need to know about estate administration. We discuss whether now is the right time to legalise same-sex marriage in Australia. We check out upcoming events in Sydney and invite you to attend a unique and entertaining activity, Mozart’s classic comedic opera - The Marriage of Figaro.
Under the National Employment Standard, many workers are entitled to receive redundancy pay if let go from an organization. Businesses must understand the rules for redundancy pay in order to ensure they comply with Section 119 of the Fair Work Act 2009. The presentation discusses all you need to know about redundancy pay in Australia.
Owen Hodge Lawyers can help employers and employees to determine when a genuine redundancy occurs, when payments are required, and what entitlements an employee should receive after a termination. We also advises clients on all issues related to the Fair Work Act, including severance and redundancy pay. Call us today on 1800 770 780 or contact us via ohl@owenhodge.com.au to speak with an employment lawyer who can provide assistance with issues arising from employee termination.
Are you considering buying or acquiring an existing business. This presentation discusses 8 basic steps for you to consider when buying or acquiring a business in Australia so that you are highlighted to pertinent issues that can impact on the success of your purchase.
Whether you are a first time entrepreneur or an experienced buyer, each target business comes with its own unique circumstances and risks. At Owen Hodge Lawyers, we are able to provide you with insightful legal tips and guide you at every step so that you can make an informed decision about your purchase. Call us today at 1 800 770 780 or contact us via email at ohl@owenhodge.com.au to schedule a free consultation with our team of estate planning lawyers. We look forward to assisting you.
Do you know every year around 750 Australian teens between the ages of 13 and 17 commit suicide because of cyber bullying? It’s a statistic sure to concern any parent. The best way to address cyberbullying is to stop it before it starts. This presentation provides valuable legal tips on how to stop cyberbullying.
At Owen Hodge Lawyers we understand that experiences relating to cyberbullying are extremely traumatic. The personal information shared and the hateful content and rumours spread often leaves people in untter despair and hopelessness. We are here to help! If you have any questions in relation to cyberbullying, please feel free to contact our team at Owen Hodge Lawyers on 1800 770 780.
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सुप्रीम कोर्ट ने यह भी माना था कि मजिस्ट्रेट का यह कर्तव्य है कि वह सुनिश्चित करे कि अधिकारी पीएमएलए के तहत निर्धारित प्रक्रिया के साथ-साथ संवैधानिक सुरक्षा उपायों का भी उचित रूप से पालन करें।
The OHL Wire ISSUE #18: The Laws To Watch in 2016- Uber, GPS tracking and more
1. The new laws that come into
effect in 2016
February 2016
18
1
Tips for Avoiding Inheritance
Disputes
What to do after car
accident?
88page pagepage
LEGAL - WEALTH PROTECTION - INVESTMENT - BUSINESS - LIFESTYLE - SYDNEY
page 9
Uber is legal in NSW, what’s
nexr?
ISSUE
HEALTH
FAMILY
SUPERANNUATION AND TAXES
SENIOR HOUSING LAW
YOUNG AND STUDENTS
2016
2. The New Laws That Come
Into Effect In 2016
PAGE 1 OWEN HODGE LAWYERS
At Owen Hodge Lawyers, we want to wish you the best of the New Year for
2016. But, as always, the New Year brought new laws. Many of these will have
a significant financial impact on families with children, seniors, students and
those buying a first home, among others.
Smart planning and good decisions will require some appreciation of the new
lay of the land, especially where increased prices and decreased assistance
are in the offing. The following is a brief overview of what you need to know
this year.
NEWS
THE
HEALTH
FAMILY
SUPERANNUATION
ANDTAXESSENIORHOUSING
POSTAL
CHARGES
PASSPORT
CHANGES
OTHER
NSW
CHANGES
3. OWEN HODGE LAWYERS - OVER 60 YEARS OF TRUSTED EXPERIENCES PAGE 2
HEALTH
Prescription costs will increase for many in 2016 for a number of reasons, including changes in
Pharmaceutical Benefit Scheme schedules.
Cost of Panadol Osteo to increase
GlaxoSmithKline, the maker of the popular
painkiller, increased the price of Panadol
Osteo by 50 per cent, as of the first of the
year, in reaction to the drug’s removal from
the PBS schedule. Pensioners now will pay
$12 per month for 192 tablets rather than
$6.10.
Seventeen older medications also
came off the PBS schedule.
Other drugs that are expected to become
more expensive include:
antacids (e.g. Gaviscon, Mylanta and Gastro-
gel), paracetamol (e.g. Panamax), iron tablets
(e.g. Ferro-Gradumet), aspirin, pain relief and
blood-thinning products, B12 injections,
hydrocortisone creams and ointments, folic
acid tablets (e.g. Megafol)
However, aspirin will be available prescrip-
tion-free.
The pensioners’ price rose to $6.20, in line
with inflation, on January 1, but pharmacists
now may sell a scrip for just $5.20.
Radiation therapy cancer treatments
will become less expensive when added
to Medicare.
4. PAGE 3 OWEN HODGE LAWYERS
FAMILY
Parents should be especially mindful of changes
affecting childcare rebates, subsidies, tax
supplements and paid parental leave.
Immunisations
Under the “No Jab, No Play” rules, children must be
up-to-date with their immunisations to qualify for
three benefits:
• the $200-a-week childcare benefit;
• the $7,500-a-year childcare rebate; and
• the $726 Family Tax Benefit A annual supplement.
The changes eliminate the conscientious - objector
exception but will permit parents to opt out when
there is a proven medical reason for not vaccinat-
ing. The combined childcare and welfare payments
at risk could amount to as much as $30,000 a year
for a family with two young children.
Nanny subsidy
The two-year Nanny Pilot Programme, which began
in January, will provide an hourly subsidy in support
of families who find it difficult to access childcare
services because they work non-standard hours,
live in remote areas or far away from existing child-
care.
For each child, qualifying families will receive a
percentage of the $7 hourly subsidy. Families
earning up to $60,000 are eligible for $5.95 per
hour per child and families earning between
$165,000 and $250,000 are eligible for $3.50 per
hour per child. The program is not intended to fully
subsidise the cost of a nanny, but is expected to
provide assistance in providing care for as many as
10,000 children.
Paid parental leave
New and expectant parents should keep a watchful
eye on unpopular changes scheduled to take effect
from 1 July, should they pass the Senate. The
Turnbull government is attempting to reconfigure
provisions that would prevent parents from using
the Commonwealth PPL Scheme if they can access
an employer scheme.
A compromise under discussion might give
all new mothers 18 weeks of paid parental
leave. If they have an employer
scheme covering them at full
wages for less than 18 weeks,
they will be able to claim
government benefits at the
minimum wage for the balance
of the period.
FAMILY
5. OWEN HODGE LAWYERS - OVER 60 YEARS OF TRUSTED EXPERIENCES PAGE 4
Superannuation income calculations and the means test for Residential Care recipients are among the
changes affecting seniors.
Residential rental care changes.
Rental income also will be included in the aged care
means test for all new Residential Care recipients, and
some existing Residential Care recipients, after 1 January.
Previously, rental income from a Residential Care
recipient’s former principal home had been included
in the aged care means test only if the recipient made
lump sum accommodation payments.
It was not included if the recipient made periodic
accommodation payments or a combination of lump
sum and periodic payments. The net effect may be that
fewer qualify for aged care assistance.
SUPERANNUATION&
TAXES
New caps on superannuation income
A new 10% cap on income received from defined
benefit pensions will apply to Cetrelink's income
test. Centrelink previously had discounted up to
40% of a person's defined benefit income.
The government uses the income received
from these corporate and public sector plans
to determine eligibility for other entitlements.
Thus, the change will reduce the eligibility
of pensioners for income support payments,
the Low Income Health Care Card, and aged
care fees.
Many pensioners will see their payments drop.
Veterans’ affairs pensions and military defined
benefit income streams are not affected by the
change.
6. OWEN HODGE LAWYERSPAGE 5
SENIOR HOUSING LAWS
Section 10 of the Strata Schemes Development Bill 2015
reduced the percentage of apartment dwellers who
must consent to a collective sale.
Under prior law, such a decision was required to be
unanimous. When the changes go into effect later this
year, only 75 per cent of residents need agree. The
dissenting minority will be required to sell, regardless of
wishes to the contrary.
The law sets forth a detailed process for consideration of
buyout plans in an effort to ensure the process is trans-
parent and democratic. It also promises assistance for
those displaced.
Nonetheless, the change has alarmed seniors and their advocates who fear that pensioners and other
vulnerable residents will be forced out of their homes in the superheated Sydney property market.
YOUTH AND STUDENTS
Incentives to find work.
Early school leavers between the ages of 15 and 21
must meet an activity test requirement of 25 hours
per week until they either get a Year 12 or Certifi-
cate III qualification.
Student loan payments.
Individuals who have taken out Australian student
loans and now live overseas must pay for them the
same way as they would if they had remained in
Australia. Senator Simon Birmingham, the Minister
for Education and Training, has estimated that as
much as $30 million in repayment has been lost
annually from graduates who have moved over-
seas. As of the first of this year, those graduates
must notify the Australian Taxation Office to make
repayment arrangements.
Expiring discounts for university fees.
Currently, university students who opt to pay their
fees in advance may take advantage of a 10 per
cent discount. Those who opt instead to defer their
fees and sign up for a HECS-HELP loan also can
avail themselves of a back door discount, a 5 per
cent "bonus," which applies when they make
voluntary repayments of $500 or more.
7. OWEN HODGE LAWYERS - OVER 60 YEARS OF TRUSTED EXPERIENCES PAGE 6
OTHER NSW CHANGES
Postal Changes
The cost of regular postage
stamps rose from 70 cents to
$1 on 4 January after Australia
Post received approval from
the Australian Competition
and Consumer Commission
for the price increase.
Passport Changes
From the beginning of January,
sixteen- and seventeen-year-olds
will be issued 10-year passports at
the increased cost of $254, the same
fee charged for an adult passport.
Reduced FHOG.
The amount of the First Home Owners Grant for
new homes will fall by a third, from $15,000 to
$10,000. For many, that all-important first
purchase may become more difficult.
Women’s safety.
A women's safety package,
including funding for programs
and the trial of GPS trackers for
domestic violence perpetrators,
is expected to be introduced
federally.
Medical cannabis trials.
NSW and Victoria will partner to conduct
clinical trials of medical cannabis, ahead
of planned legal access to locally manu-
factured medicinal cannabis products.
Medical cannabis is expected to be
available for use in the treatment of
children with chronic epilepsy, beginning
in 2017.
AUSTRALIA
JUL 2015
PALM
BEACH
8. OWEN HODGE LAWYERSPAGE 7
OTHER NSW CHANGES
Underquoting property sales prices
Underquoting occurs when an agent understates
the estimated selling price of a property, using
phrases such as “offers over,” or “offers above.”
Going forward, agents may not quote a selling
price less than the estimate provided to the seller
in the sales agreement. Furthermore, if a price
range is used, the highest price must not be more
than 10 per cent higher than the lowest price. Real
estate agents who underquote face losing their
commission and incurring fines of up to $22,000.
Bicycle laws
From 1 March 2016, cyclists over 18 must carry
photo ID. If they do not have a driver’s licence, they
can get a $51 NSW photo card.
In addition, motorists must maintain a one-metre
distance from a cyclist when passing at speeds of
60km/h or less and 1.5 metres at speeds over
60km/h. Failure to keep the minimum distance
when passing a bicycle rider will result in a $319
fine and a two demerit point penalty.
Under the new rules, bicycle riders also should
keep a metre’s distance from pedestrians on shared
paths, where possible.
Opal Cards
Say farewell to paper tickets
on trains, busses, ferries and
light rail. The only paper
tickets available are single
Adult and Concession tickets
and return Adult and Conces-
sion tickets.
.
9. What to Do
To ensure you make the right
choices for your health, your
vehicle and your finances after a
crash, you should take these
essential steps after a car accident
happens:
• Stop your vehicles. It is a crimi-
nal offence to fail to stop after a
crash, to fail to exchange contact
information with other involved
motorists or to fail to render aid. If
you leave the crash scene and
someone was seriously hurt, you
actually could be charged with an
indictable offence, which could
carry a lengthy jail sentence or
large fine.
• Remove vehicles from the road.
All those involved in the collision
and all bystanders should move
safely off the road and should try
moving vehicles out of the path of
oncoming traffic when possible.
• Assess if anyone is injured. If
anyone has been hurt, call 000 for
immediate medical assistance.
• Contact the police. Calling the
police is not required after every
accident, but is necessary for most
crashes. If property damage or
injury occurred, if the police are
needed to direct traffic, if alcohol or
drugs may have been involved or
if anyone involved fled the scene of
the accident, it is especially import-
ant to contact the police.
• Obtain details and evidence from
the crash. Get the contact details
and license information of other
drivers involved in the accident. Get
the contact information of witnesses
and take pictures of the area where
the crash happened and of the
damage to vehicles.
You also should be ready to deal
with insurers who will be making
decisions regarding coverage for
losses.
Avoiding inheritance disputes
begins during the estate planning
process. To help reduce the
chance conflicts will arise, it is
important to:
• Understand the top reasons for
disputes. Inheritance disputes
frequently arise when potential
beneficiaries believe assets were
not divided fairly; when sentimen-
tal items are divided; or when
there is confusion regarding the
wishes of the deceased. Conflicts
also arise regarding whether
assets such as a house should be
sold or how these assets should
be maintained.
• Provide clear instructions in an
up-to-date will. To ensure gifts
left behind for loved ones are a
positive legacy, rather than a
burden that leads to fighting,
create a comprehensive and
Tips for Avoiding Inheritance Disputes
detailed will. It is a good idea to
review the will periodically to
ensure all assets are addressed
and that instructions are clear.
• Communicate with family
during the estate planning
process. As you plan ahead for
your future and determine how to
distribute your assets, it may be a
good idea to talk with your loved
ones. While you don't want to put
yourself in a situation where you
are subject to undue pressure or
where you become embroiled in
conflicts about asset division, you
can have open discussions about
your wishes so your family is clear
on what decisions you made and
why you made them.
• Choose a capable and trust-
worthy executor. The executor is
the person who is actually in
charge of getting your will through
the probate process. Inheritance
disputes and conflicts can arise
when an executor is not trustworthy
and does not follow the proper
processes after a death occurs.
OHL Lawyers has helped many
clients to create an estate plan and
has provided assistance to execu-
tors and beneficiaries during the
probate process. Call today to
speak with a legal professional and
find out how we can help.
Straight After a Car Accident ?
OWEN HODGE LAWYERS - OVER 60 YEARS OF TRUSTED EXPERIENCES PAGE 8
10. OWEN HODGE LAWYERSPAGE 9
trends
in
2016
On 17 December, the New South Wales cabinet signed off on a deal
to legalise ride-sharing services including Uber, Uber X and perhaps
others in the future.
For passengers
If you live and die by your phone, it’s nearly impossible to beat the
convenience of being able to summon and pay for your ride via
mobile app. Drivers must pass criminal background checks. The cars
themselves must pass safety inspections. Nonetheless, after a driver
was charged with raping a passenger in Vaucluse, some have
expressed safety concerns. In addition, Uber is not everywhere. Cars
will not be able to pick up hailing passengers from the street, taxi
ranks or at the Sydney Airport.
For taxi owners
Taxi plates are a major investment for owners, costing from $300,000
to $400,000. It’s a sobering statistic that in San Francisco, where Uber
originated, average cab business tumbled by 65 per cent. The trans-
fer value of a taxi license dropped by almost one quarter in the
month prior to the NSW decision to greenlight Uber. Taxi owners
have plenty of reasons to be nervous.
The deal worked out by the NSW government attempts to balance
the interests of passengers and taxi owners by creating a compensa-
tion package for plate holders.
This includes:
• a one-off payment of $20,000 to owners of licence plates;
• the repeal of more than 50 regulations that the industry regards as
burdensome;
• the creation of a $142 million fund for taxi licensees who face
hardship as a result of the changes; and
• a buyback scheme for perpetual hire-car licences.
For non-owner drivers
Taxi owners are not alone in feeling the squeeze. About 70 per cent
of taxi operators do not own a taxi licence but pay lease fees to the
owner or hold an annual licence. Under new regulations, drivers will
have to pay an authority fee of $45 and an annual registration fee of
$120 to $200. That may be too steep for most, who work for fewer
than 10 hours per week.
Some drivers may take advantage of the declining cost of a plate to
purchase for themselves. Others, fearing a decline in business, may
move to Uber instead.
Technologically driven disruption in the hire-car industry may be
good news for riders, but the industry still is processing the legal
and economic implications.
Uber is legal in NSW,
what’s next?
11. Sydney Chinese New Year Festival
6 February to 21 February
Sydney City, Haymarket NSW 2000
Morning Herald Growers Market
6 February
Sydney Metropolitan and Regional
NSW locations, Sydney NSW 2000
Bringing everything from fresh fruit
and vegetables to rare-breed pork
and seafood to Pyrmont Bay Park,
the Sydney Morning Herald Growers'
Market has been a tradition for the
last 14 years.
4 February to 7 February
19 Greenknowe Avenue. Potts Point
(02) 8065 7337
One of the hit shows from this year's
Hayes Theatre Co Cabaret season is
returning in 2016. Well known cabaret
artist Phil Scott teamed up with director
Terence O'Connell to create Reviewing
The Situation, a celebration of the life
of Lionel Bart.
What’s On in Sydney
Celebrate the Lunar New Year at City
of Sydney's Chinese New Year Festival.
This vibrant arts Festival has a program
bursting with cultural events, markets,
tours, exhibitions and entertainment,
most of them free.
The Reef - Sydney
12 February
City Recital Hall, Sydney NSW 2000
Luisa Miller - Opera
11 February to 29 February
Sydney Opera House, Sydney NSW
This rare and beautiful work of Verdi,
with its sumptuous and intimate score,
tells a thrilling story of love, intrigue
and poison. Luisa Miller is a woman in
love, but a woman in anguish, trapped
by a man she does not love and a
father who loves her too much.
Papunya Tjupi Arts 2016 Exhibition
10 February to 28 February
Incinerator Art Space, Willoughby NSW
0447 538 077
Originally only the men painted in
Papunya, the birthplace of the
Western desert dot-painting
movement. Now it is the women who
artistically thrive in this community.
Their remarkable works are receiving
widespread acclaim.
Australian Chamber Orchestra presents
an illuminating and thrilling celebration
of surfing, the ocean, landscape, film
and music melded together.The Reef
returns to Sydney for one night only
before embarking on its North American
tour.
The Color Run Night
20 February 2016
Mrs Macquaries Road, Sydney Harbour
thecolorrun.com.au
Cinema In The Park
19 February
Morrison Bay Park, Putney NSW 2112
www.ryde.nsw.gov.au/cinema
Cinema In The Park - City of Ryde's free
annual open air movie season, now in its
15th year. Come and enjoy Avengers 2:
'Age of Ultron', starring Aussie superhero
Chris Hemsworth.
Meatstock Festival
13 February to 14 February
Sydney Olympic Park NSW 2127
Website: www.meatstock.com.au
The two-day meat filled extravaganza
will feature bands, barbecues, beards,
butchers, bourbon, barbers, beer and
much more.
The Color Run, also known as the
Happiest Five Kilometres on the Planet,
is a unique paint race that celebrates
healthiness, happiness and individuality.
(02) 9265 9333
www.aco.com.au/reefsydney
Reviewing The Situation - Potts Point
(02) 9318 8200
OWEN HODGE LAWYERS - OVER 60 YEARS OF TRUSTED EXPERIENCE PAGE 10
12. INDIVIDUAL AND COMMERCIAL LAW SPECIALISTS
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1800 770 780
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