FNSTPB503 - Legal Principles In Contract Consumer Law & Personal Property Act  (PPSR) - Law Assignment Help

Assignment Task -                 

Task 1 Research Assessment 

Trusts and Superannuation 

What you have to do: 

1. You must read the information in the research question carefully. 

2. You should visit the following links for useful information: 

3. Research the topic and relevant statute and case law. 

4. Collect, collate and present the client's relevant personal and business information from the details below for your evaluation and analysis. 

5. Identify and describe any additional information you would seek. 

6. Describe any specialist advice you may seek to best advise the client. 

7. Interpret, analyze and process the available information to obtain required knowledge on client's business structure requirements. 

Advise Andrew and Patricia in relation to trusts and superannuation based on  the following information: 

These clients are well informed and are seeking a rational outline of advice relating to:  a) the nature of a trust and its advantages and disadvantages. 

b) the basic characteristics of three different types of trust. 

c) any special trust/s that may suit their personal circumstances. 

d) types of the superannuation fund and their advantages and disadvantages. e) the best way for them to accumulate superannuation in their circumstances. f) legal protections for superannuation in Australia. 

Andrew is 45 and his wife Patricia Reeves is 34. They approach you (as their accountant) to recommend investment structures for their retirement and specifically for their children. 

They have been married for 10 years and have two children. Rodger, aged ten, attends a  school for severely autistic children, and Sarah, aged three, attends a child care center two days a week.  

They own their fully-furnished home worth $900,000 in joint names as joint tenants. They currently have some $350,000 in cash in a bank account (in joint names) and have been paying personal taxes on the interest earned. Andrew was previously self-employed as a  finance broker and is good with figures. He has no accumulated superannuation. He concentrated on paying off the mortgage on their house.  

He is now a house husband with a part-time job earning $15,000 per annum. He expects to do this for the foreseeable future. They do not intend to move.

Task 2 Research Assessment 

Real and Personal property 

The acquisition, ownership, and/or disposal of real and personal property attracts certain types of taxation. 

It is important to have a general understanding of the legal liability for some such mandatory taxes and duties on “property”. 

It is also important to have some understanding of how to create, claim, protect and perfect a  security interest in the property.

What you have to do: 

1. You must read the information in the research item questions carefully. 2. You should visit the following links for useful information: 

3. Research the topic, websites, and relevant statutes. 

4. Prepare to the point answers on the required information. Bullet points are satisfactory.  5. Please do not copy and paste “slabs “of information. 

6. Written answers in this task should be concise for example “to protect a secured interest in the personal property” may be sufficient.  

 PPSR  

(a) Define personal property in the PPSR Act? 

(b) Define a floating charge issued by a Company?  

(c) Explain how such a charge would normally be created? 

(d) Describe the name the PPSR gives such a security interest? 

(e) Briefly describe and explain the process of perfecting a secured creditor’s interest  in a floating charge issued by a registered company in Australia today 

(f) Describe and explain the potential legal consequences to a secured creditor with a  valid floating charge in Australia failing to follow this process? 

5. Real property  

(a) Identify one legal document that would contain valid evidence to assist a  registered tax agent to substantiate some of a real property investor’s claims for allowable deductions, depreciable items, capital costs, and capital gains in relation to the acquisition or exchange and disposal of real property. 

(b) What is a caveat in Torrens title in NSW? 

(c) Explain in what circumstances a person may lodge a valid caveat on Torrens Title property.  

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