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Author Archive | Bryce Figot

About Bryce Figot

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SMSF Association 2020 National Conference

The SMSF Association 2020 National Conference was held last week on the Gold Coast. I commend the SMSF Association for putting on such a great conference event, not just this year but every year! At this year’s conference, I presented a specialist only session on carrying on a business in an SMSF. Daniel Butler presented [read more]

What is a reversionary pension?

What is a reversionary pension?

There is a little known rule that can have huge implications for SMSFs, particularly when it comes to reversionary pensions. This article provides the crucial ‘must know’ details. What is a ‘reversionary pension’? The ATO describes a reversionary pension as follows, without actually using the term ‘reversionary’ (Taxation Ruling TR 2013/5 [29]): A superannuation income [read more]

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SMSF Succession Planning Day (Face-To-Face)

On Wednesday 20 November 2019 DBA Network is holding a special, once-off SMSF Succession Planning Day (face-to-face). It will provide a 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 administrators and lawyers who want [read more]

Reversionary pension v BDBN: which one wins?

Reversionary pension v BDBN: which one wins?

By Bryce Figot, Special Counsel, DBA Lawyers and Daniel Butler, Director There is a misconception that reversionary pension documentation will always apply before a binding death benefit nomination. If the SMSF deed is silent on the question, it can be entirely possible at times that the binding death benefit nomination (‘BDBN’) will apply before any [read more]

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Superannuation proceeds trusts: can you establish one after a client’s death?

By Bryce Figot ([email protected]), Special Counsel, DBA Lawyers (Note: this article is only a very brief discussion of one aspect of superannuation proceeds trusts — for a complete guide to superannuation proceeds trusts, see https://www.dbalawyers.com.au/dba-news/the-complete-guide-to-super-proceeds-trusts/) In this article I discuss whether a superannuation proceeds trust can be set up after death. However, first I pause [read more]

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The Complete Guide to Super Proceeds Trusts

DBA Lawyers is launching The Complete Guide to Super Proceeds Trusts. It covers: What exactly is an SPT? What is the key benefit of setting up an SPT? Can an SPT be set up after a member’s death? Should an SPT be set up after a member’s death? Can you have multiple discretionary income beneficiaries [read more]

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What is the status of contribution reserving in light of SMSFRB 2018/1?

Bryce Figot ([email protected]), Special Counsel, DBA Lawyers Earlier this month, the ATO released Self Managed Superannuation Fund Regulator’s Bulletin SMSFRB 2018/1. It contains some of the most important information available on the use of reserves for SMSFs. However, there is a vital question regarding contribution reserving that SMSFRB 2018/1 gives rise to. The question is [read more]

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Webinar on SMSF reserves

Today the ATO issued SMSF Regulator’s Bulletin SRB 2018/1 ‘The use of reserves by self-managed superannuation funds’, which is the most comprehensive material that the ATO has ever released on the use of reserves in SMSF. In particular, SRB 2018/1 highlights the ATO’s concerns about new and emerging arrangements that pose potential risks to SMSFs [read more]

National-SMSF

Presenting at CA ANZ 2017 National SMSF Conference

Dan and I are each presenting sessions at the CA ANZ 2017 National SMSF Conference in Sydney September. I’m presenting ‘Getting to Know Transfer Balance Account’ and Dan is presenting on Exempt Current Pension Income. It should be a great conference. For more information see http://www.cvent.com/events/national-smsf-conference-2017-sydney/event-summary-385c2d0597d142a0aac055b6fc89a426.aspx * * * This article is for general information [read more]