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Update on the DBA Network SMSF Podcast

Shaun Backhaus, Lawyer ([email protected]) and Bryce Figot, Special Counsel ([email protected]), DBA Lawyers

The DBA Network SMSF Podcast is now in full swing with our third episode being released in the first week of June. Below we give an overview of what is discussed in the May and June podcasts.

June 2019 – Election results and Aussiegolfa Pty Ltd (Trustee) v Commissioner of Taxation [2018] FCAFC 122

The election result was a surprise for most people. As a result of this we discuss the possible changes coming to SMSFs from the Coalition government. In particular, we discuss how to deal with the potential increase in the number of members allowed in an SMSF and the risks accompanying this.

We also discuss the current key case regarding the sole purpose test: Aussiegolfa. We explain what this case actually tells us about the sole purpose test and how advisers should proceed in light of this case and the ATO’s response.

May 2019 – Death benefits and conflict of duty – Gonciarz v Bienias [2019] WASC 104

In our May podcast we discussed the recent case of Gonciarz v Bienias [2019] WASC 104 (‘Gonciarz’). Gonciarz continues the line of cases dealing with the conflict of duty that arises where the executor or administrator of a deceased estate seeks to receive the death benefits of that deceased person in their personal capacity.

Gonciarz shows that the courts continue to apply the strict requirements upon executors/administrators as laid out in Burgess v Burgess [2018] WASC 279. However, this case provides a unique set of facts where the court was able to step in to relieve an administrator of their role, effectively ending the conflict.

Our discussion about this case highlights how this conflict can arise in the context of SMSFs and what advisers should consider to prevent this issue arising.

Get involved

The DBA Network SMSF Podcast can be accessed via the Podbean website (https://dbanetwork.podbean.com/#) or by downloading the Podbean app (search for DBA Network).

Are you interested in a specific case or topic? Are you confused about some legislative changes and what they mean for you?

Let us know and it might just be the topic of our next podcast!

You can email your questions and queries to DBA Network at [email protected].

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This article is for general information only and should not be relied upon without first seeking advice from an appropriately qualified professional.

Note: DBA Lawyers hold SMSF CPD training at venues all around Australia and online. For more details or to register, visit www.dbanetwork.com.au or call 03 9092 9400.

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