Peter Bourke Legal

31/03/2026

Peter Bourke Legal is two! Second full year of business at 53 Sydney Street, Kilmore! Thank you to all of our clients. We look forward to many more years of being of service to the people of Mitchell Shire and beyond.

17/12/2025

Peter Bourke Legal will be closed Wednesday 24th December 2025 to Tuesday 6th January 2026. We hope everyone has a wonderful Christmas break and a Happy New Year.

02/11/2025

Day 2 Whittlesea Show…

02/11/2025

Peter Bourke Legal proudly supports The Whittlesea Show. Here’s Peter presenting prizes at the wood chopping

30/10/2025

Due to Peter Bourke’s birthday coinciding with the Melbourne Cup Public Holiday, Peter Bourke Legal will be closed Monday 3rd November & Tuesday 4th November.

25/09/2025

15/09/2025

Peter Bourke Legal is a proud sponsor of 2025 Whittlesea Show.

22/06/2025

Partnerships in Victoria

A partnership is a group of between 2 and 20 people who go into business together to make a profit. In Victoria, there are 3 types: general, limited and incorporated limited. They are governed by the Partnership Act 1958.

This partnership is one in which each partner is equally responsible for managing the business and has unlimited liability for the debts and obligations the business may incur.

Section 23 of the Act provides rules to govern the rights and duties of partners in this arrangement:

All partners must share equally in the profits and losses of the business. The business must indemnify every partner for payments made and personal liabilities incurred in the ordinary and proper conduct of the business, or to protect it.

A partner who pays more than their share of capital can claim interest of 7%.

A partner cannot collect interest on their capital before profits are calculated.

Every partner can take part in managing the business.

No partner is entitled to be paid for acting in the business.

No partner can be introduced as a partner without the consent of all existing partners.

Any dispute about ordinary matters in the business can be decided by a majority of partners but the nature of the business cannot be changed without the consent of all existing partners.

Partnership books are to be kept at the place of business and be available to all partners at all times for inspection and copying.

Other rules provided by the Act include:

A partner cannot be expelled from the partnership by majority unless this is provided for in the partnership agreement.
Every partner must disclose any private profit they made from a partnership transaction or the use of partnership name or business connection.

A partner must not run a business of the same nature that competes with the partnership business, and if they do, they must hand over to the partnership all profits made.

Limited
This arrangement is one in which one or more partners has limited liability for the debts and obligations of the business while the other partners have unlimited liability. The limited partner’s liability is proportionate to their investment in the business. There is no cap on the number of limited partners in the business.

A limited partner must not take part in management of the business but can perform some business functions such as advising and consulting other partners on the state and prospects of the business.

Limited partnerships must be registered with Consumer Affairs Victoria. The registration application must include details such as the amount of capital or the value of property provided to the partnership by the limited partner.

Incorporated limited
This is is a special type of limited partnership that has the legal capacity and powers of an individual as well as the powers of a business. This includes the power to:

enter into contracts;
create, confer, vary or cancel interests in the partnership;
acquire, hold and dispose of property;
appoint agents and act as an agent;
for and take part in forming companies or incorporated limited partnerships;
take part in partnerships, trusts, unincorporated joint ventures and other arrangements to share profits;
take other actions authorised by the partnership agreement.

15/06/2025

At Peter Bourke Legal we understand that the ins and outs of being an executor of an estate can be confusing and stressful. That’s why we’re here to answer one question we’re often asked: what is an executor’s commission?

Executor’s commission is a payment to an executor for the ‘pains’ and ‘troubles’ of carrying out the executorial role.

These are separate terms:

‘Pains’ refers to the responsibility, anxiety and worry regarding carrying out the executor role.

‘Troubles’ refers to the actual work completed by the executor on behalf of the estate. For example, meetings with the solicitor, organising the funeral, and meetings with the accountant.


What is not entitled as Commission

Commission does not relate to out-of-pocket expenses or reasonable expenses incurred by an executor when carrying out the tasks of the estate. These costs are reimbursable to the executor by the estate, therefore this is not considered commission.

Declaring Commission

The commission to the ATO is considered income, which the executor must declare for income tax purposes for the year in which the executor receives it.

Entitlement to Commission

If the deceased does not provide commission to the executor in his/her will, there is no automatic entitlement to commission. To be paid a commission, an executor must obtain approval in one of two ways:

From the residuary beneficiaries under the will, who must consent to pay the commission the executor seeks; or

An application is made by the executor under Section 65 of the Administration and Probate Act.


How Much Commission is to be Paid

Since commission is meant to be compensation for the specific pains and troubles incurred by the specific executor, the commission payable can vary substantially from estate to estate. Two estates of exactly the same value may have completely different commission amounts determined to be properly payable to the executor.

As a balance and check system, the court has regard to how any specific commission relates to the estate’s total value. There is a statutory limit under the Act of 5% of the value of the estate. The court will not award a figure that exceeds that 5% limit. If there is more than one executor, then the amount of commission paid would be divided equally between the executors, and that figure cannot exceed 5%.

Contact us
If you need further clarification when it comes to deceased estates and commission of the executor contact our office on 5782 1200.

02/06/2025

Peter Bourke Legal will be closed Monday 9th Of June 2025 for the Kings Birthday Public Holiday. Enjoy the long weekend.

16/04/2025

Peter Bourke Legal will be observing the Easter break, with our office closed from Good Friday (18th April) to Easter Monday (21st April), reopening on Tuesday, 22nd April. We wish you a pleasant long weekend.