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Traps that turn your non-geared unit trust into an in house asset

By Joseph Cheung, Lawyer and David Oon, Senior Associate, DBA Lawyers A reg 13.22C non-geared unit trust (‘NGUT’) is not included as an in-house asset (‘IHA’) at the time of the initial investment provided certain criteria is met. Some trustees may think that they are investing in a reg 13.22C NGUT on the basis that the [read more]

SMSF succession planning

Perry v Nicholson [2017] QSC 163: important lessons on SMSF succession planning

By Bryce Figot, Special Counsel and Daniel Butler, Director, DBA Lawyers The recent decision of Perry v Nicholson [2017] QSC 163 contains various important lessons for SMSF succession planning. Facts The Colin Maurice Superannuation Fund was established on 17 September 2009. The original trustees were Colin Maurice (‘Deceased’) and his adult daughter Sonia Perry, with [read more]

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Important trap: Payments above ABP minimum

By Joseph Cheung, Lawyer and Bryce Figot, Special Counsel, DBA Lawyers The new transfer balance cap causes a trap for SMSF pensioners who receive payments above the account-based pension (‘ABP’) minimum annual payment. For these pensioners, the capital supporting the pension(s) is reduced by the amount of the pension payments(s), including the amounts above the [read more]

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