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Author Archive | Bryce Figot

About Bryce Figot

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PCG 2020/6 & recap on timing of contributions

PCG 2020/6 & recap on timing of contributions

The ATO recently released Practical Compliance Guideline PCG 2020/6. The guideline considers the timing of income tax deductions for superannuation contributions made through the Small Business Superannuation Clearing House (‘SBSCH’) and the ATO’s compliance approach. However, it is also a timely reminder on when to make contributions more generally. Background to PCG 2020/6 The ATO’s [read more]

Why use pension documentation from DBA Lawyers

Why use pension documentation from DBA Lawyers

DBA Lawyers offers industry-leading pension documentation. In this article, I set out several key benefits of using pension documentation from DBA Lawyers. Our expert lawyers regularly review and revise our documents Our documents are regularly reviewed and revised to ensure they reflect the latest superannuation, tax and related practical and strategic developments. Each suite of [read more]

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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]