Hot Legal Topics

LETTER TO THE EDITOR -WAGGA DAILY ADVERTISER - 21.2.2011

"There are several current legal issues which will come as a pressing concern to many of your readers in the rural sector. These time-sensitive issues need prompt attention and I urge readers to discuss them with their solicitor, accountant or financial planner to gain maximum benefit.

Exceptional Circumstances Income Support - it is likely to end on March 31, 2011. Any farmer or small business operator receiving income support who is over the age of 65 should review their Age Pension options.

The Pensioner Bonus Scheme - this is still available to people who turned 65 prior to September 20, 2009 provided that they work at least 960 hours a year and is self-employed or receiving a wage.

Perpetual Leases - If you have one of these your yearly rental could have increased by up to 450%. It is not too late to apply to convert to freehold and save money.

Family trusts with Corporate Trustees/Workcover issues - you could be liable for premiums on deemed income.

Farm debt mediation - It is important to know your rights. Lease or sharefarming agreements - Speak to a professional about the advantages and disadvantages. Get a checklist and know your options.

In some instances these legal issues have deadlines attached so it is important for people to act now.

The rural sector has done it tough in recent times through drought and floods but it is important to let them know help is available.

Bill Thompson
Commins Hendriks Solicitors
Coolamon