By Kimberley Noah ([email protected]), Lawyer, and Daniel Butler ([email protected]), Director Introduction The GST withholding regime (‘Withholding Regime’) was introduced on 1 July 2018 to collect GST from foreign vendors, but has much broader application. GST is typically a vendor responsibility. However, under the Withholding Regime, purchasers of certain residential property must withhold GST from the [read more]
By Allison Murphy, Lawyer ([email protected]), and William Fettes, Senior Associate ([email protected]), DBA Lawyers The limited recourse borrowing arrangement (‘LRBA’) lending market has undergone a significant shift in recent years, with most first-tier bank lenders withdrawing their LRBA offerings for purchasers of residential property. As a result, several smaller second-tier lenders have emerged to fill the [read more]
By Bryce Figot, Special Counsel ([email protected]), and Daniel Butler, Director ([email protected]), DBA Lawyers Introduction There has been a number of commentators suggesting that if a pension reversion nomination conflicts with a binding death benefit nomination (‘BDBN’), the pension reversion nomination prevails. While we acknowledge the answer is not necessarily black and white; as it depends [read more]
Daniel Butler, Director ([email protected]), and Bryce Figot, Special Counsel ([email protected]), DBA Lawyers Many advisers do not foresee the potential flow-on legal consequences from merely providing an investment strategy template to an SMSF client. Indeed, many believe they are merely assisting their client particularly to ensure the SMSF will have the necessary paperwork to survive an [read more]
By Kimberley Noah ([email protected]), Lawyer When winding up a limited recourse borrowing arrangement (‘LRBA’), appropriate documentation is required. Broadly, an SMSF trustee has the right to acquire legal ownership of an LRBA asset (ie, from the relevant custodian/bare trustee) after the loan is fully repaid. Refer to s 67A(1)(c) of the Superannuation Industry (Supervision) Act [read more]
