A recent NSW Court of Appeal case examined the circumstances when money initially provided as a gift could later be classified as a loan. The Case In the case, the father made a financial advance to his son in the amount of $1.2 million to assist the son and his wife purchase their family home. Following a successful purchase at auction, the father had several discussion with friends and his son, the father changed his mind and wished to classify the gift as a loan. The father engaged his […]
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Sep