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Limited recourse borrowing arrangements can use one bare trustee for multiple bare trusts

Gary Chau, Lawyer, and David Oon, Senior Associate, DBA Lawyers Introduction A common question we get asked when a client’s self managed superannuation fund (‘SMSF’) is undertaking a limited recourse borrowing arrangements (‘LRBA’) is whether there needs to be a separate bare trustee (usually a company) for each bare trust. The short answer is no. [read more]

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2017 Supreme Court challenge to BDBN fails due to valid service on corporate trustee

William Fettes, Senior Associate, Bryce Figot, Special Counsel, DBA Lawyers Disclaimer: DBA Lawyers provided advice to one of the parties in Cantor Management Services Pty Ltd v Booth. We only mention facts made publicly available in the judgement. The recent decision of Cantor Management Services Pty Ltd v Booth [2017] SASCFC 122 provides important guidance [read more]

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Your discretionary trust may unwittingly be subject to extra duty or land tax

Shaun Backhaus, Lawyer and Daniel Butler, Director DBA Lawyers Background Foreign purchaser additional duty (‘FPAD’) was introduced in Victoria from 1 July 2015 which adds an extra 7% land transfer duty on residential property purchases in Victoria if there is a foreign beneficiary of your discretionary or family trust (s 28A Duties Act 2000 (Vic) [read more]

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