A 2015 Supreme Court decision is both good news and a caution for contributions to super and SMSFs and bankruptcy. A recent court decision demonstrates what can happen when a... read more →
Munro v Munro [2015] QSC 215 is the latest case involving a binding death benefit nomination (‘BDBN’) that was held not to be binding. This case is a very important... read more →
Once it is clear that an SMSF has run into problems, it seems counter intuitive to some trustees to assist the ATO in investigation or in prospectively rectifying issues. However,... read more →
Introduction The question seems simple enough — what should you do when the trust deed for a self-managed superannuation fund (‘SMSF’) is lost? The answer to this question is becoming... read more →
Treasury released draft legislation recently that will impact limited recourse borrowing arrangements. For full details see http://www.treasury.gov.au/ConsultationsandReviews/Consultations/2015/Look-through-treatment-for-instalment-warrants We consider the major changes for SMSFs and limited recourse borrowing arrangements. Background Naturally,... read more →
Introduction The recent decision of Deputy Commissioner of Taxation v Lyons [2014] FCA 1353 provides various insights for SMSF trustees, as explained in this article. Facts of decision On 6... read more →
The ATO has recently released self managed superannuation fund determination SMSFD 2014/1. SMSFD 2014/1 builds on taxation ruling TR 2013/5 and SMSFD 2013/2 and provides some important insights regarding the... read more →
There are many strategies put forward on how to provide smooth and effective succession for a self managed superannuation fund (‘SMSF’) members. Fortunately, while there is no ‘one size fits... read more →
There has been much conjecture as to whether a self managed superannuation fund (‘SMSF’) trustee can implement a cross-insurance strategy after 1 July 2014. The ATO recently addressed this question;... read more →
There are now over five hundred thousand Self Managed Superannuation Funds (SMSFs) in Australia where the members of the fund are also the trustees. These trustees are responsible for running... read more →
The end of the financial year is fast approaching. We now address some of the key items that should be considered in the lead up to 30 June 2014. DBA... read more →
Many do not realise the extent of the disqualified person provisions in the Superannuation Industry (Supervision) Act 1993 (Cth) (‘SISA’). This can result in a person inadvertently acting as trustees... read more →
Each income year, a self-managed super fund (SMSF) trustee must appoint an independent approved SMSF auditor to perform a financial and compliance audit of their SMSF's operations before they lodge... read more →