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Author Archive | Bryce Figot

About Bryce Figot

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Succession Planning Webinar

On Friday 5 August 2022, Bryce Figot, Special Counsel of DBA Lawyers, will be presenting an SMSF Succession Planning Webinar. Bryce will present a face-to-face practical, step-by-step guide on how to ensure that a member’s SMSF benefits are appropriately dealt with upon their incapacity or death. It is designed for financial planners, accountants, auditors, SMSF [read more]

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Employee or contractor –– High Court focus on contract v. multi-factors –– Part 2

The law in relation to who is an employee or independent contractor has developed over many years both here in Australia and overseas. Several recent Australian High Court decisions provide greater clarity on this distinction which we discuss below. Employee v contractor ­­– PAYG & SG – Part 1 Note that this is the second [read more]

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Tasmania introducing foreign person land tax and duty changes

Overview The Tasmanian Government has recently introduced legislation to impose a Foreign Investor Land Tax Surcharge, a commitment from the 2021 state election. There has also been legislation introduced that would amend the Foreign Investor Duty Surcharge for Tasmania. This article acts as a brief simplified overview as there are complexities that must be considered [read more]

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SMSF Association 2022 National Conference

The SMSF Association 2022 National Conference was held last week in Adelaide. I commend the SMSF Association for putting on such a great conference event, not just this year but every year! This year was particularly enjoyable being a back ‘in person’ event. At this year’s conference, Daniel Butler, Shaun Backhaus and I presented sessions. [read more]

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New pension laws just made!

On Monday 4 April 2022 the Government made new laws impacting pensions (see the Treasury Laws Amendment (Allowing Commutation of Certain Income Streams) Regulations 2022 (Cth)). Those in particular with legacy pensions should pay close attention! Over 200 years ago, on 7 March 1795, English newspaper The Hull Advertiser announced that ‘[t]he licence to wear hair [read more]

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New choice simplifies ECPI claims via the unsegregated or actuarial method

On 10 February 2022, the Federal Parliament passed Treasury Laws Amendment (Enhancing Superannuation Outcomes For Australians and Helping Australian Businesses Invest) Bill 2021 (Bill) which contains an important measure impacting how SMSFs can claim exempt current pension income (ECPI). In broad terms, the ECPI changes in the Bill improve the ability of fund trustees to [read more]

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Seeking compensation for defective ATO administration

Introduction The ATO is a large bureaucracy with a large workforce handling complex legislation. Mistakes sometimes can occur. ATO mistakes or ‘maladministration’ can give to considerable costs to taxpayers. In certain circumstances taxpayers (including SMSF trustees) may seek compensation from the ATO where, for example, the ATO has directly caused a taxpayer to suffer detriment, [read more]

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Are SMSF wills really ‘safer’ than BDBNs?

Soon the High Court will hand down a judgement being the appeal from Hill v Zuda Pty Ltd [2021] WASCA 59 which will definitively answer (among other things) whether an SMSF binding death benefit nomination (BDBN) can last either indefinitely or a maximum of only three years. Some in the SMSF industry have suggested that [read more]

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AAT decision on personal deductible contributions

The AAT decision of Khanna and Commissioner of Taxation [2022] AATA 33 serves as a timely reminder regarding personal deductible superannuation contributions. The taxpayer (Mohan Lal Khanna) made $9,600 of personal superannuation contributions to his superannuation fund during the 2018-19 income year. Shortly after the end of the 2018-19 income year (on 3 July 2019) [read more]

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SMSF seminars for CPA Australia

Bryce Figot is excited to soon be presenting a series of three and half hour seminars for CPA Australia in various locations in regional Victoria. They should be great seminars. These seminars will cover and explore: latest cases; legislation; regulatory developments; and other tips and traps. To register, or for more information, visit: For Traralgon (Tuesday [read more]