By Christian Pakpahan, Lawyer and Daniel Butler, Director, DBA Lawyers We compare the option of a director nominating an alternate director in contrast to nominating a successor director in a self managed superannuation fund (‘SMSF’) context to determine which is better. In Part 1 of our series, we considered how alternate directors are problematic in [read more]
By Christian Pakpahan, Lawyer and Daniel Butler, Director,DBA Lawyers We compare the option of a director nominating an alternate director in contrast to nominating a successor director in a self managed superannuation fund (‘SMSF’) context to determine which is better. We also provide a brief comparison table below to support our view that alternate directors [read more]
Christian Pakpahan ([email protected]), Lawyer and Daniel Butler ([email protected]), Director, DBA Lawyers This article covers the main ways a person becomes a disqualified person, the consequences of disqualification and the options available to those who are disqualified. (We refer to a trustee in this article as covering both individual trustees of an SMSF and directors of [read more]
By Christian Pakpahan, Lawyer and Daniel Butler, Director,DBA Lawyers Introduction On 17 July 2018, Treasury released exposure draft legislation which broadly extends the operation of SuperStream to cover self managed superannuation funds (‘SMSFs’). Currently SMSFs only need to be able to receive contributions and rollovers through SuperStream. Current Legislation Currently SMSFs are only required to [read more]
By Christian Pakpahan, Lawyer and Daniel Butler, Director, DBA Lawyers We outline below the key superannuation changes announced in the Federal Budget 2018 on 8 May 2018. Some of the proposed changes will have a substantial impact on SMSFs if they are finalised as law. Nomination of superannuation guarantee (‘SG’) for certain employees with multiple [read more]
By Christian Pakpahan ([email protected]), Lawyer and Bryce Figot ([email protected]), Special Counsel, DBA Lawyers The new transfer balance cap regime can make succession planning tricky. A member may desire to make their pensions reversionary upon death. However, there may be situations where receiving these reversionary pensions would cause the beneficiary to exceed their transfer balance cap. [read more]
By Christian Pakpahan, Lawyer and Daniel Butler, Director DBA Lawyers Company constitutions are often treated as a commodity even though they are a very critical document to the overall effective operation of a company. A constitution, for instance, governs the company’s decision making, powers including the appointment and removal of officers, shareholders and many other [read more]
Christian Pakpahan, Lawyer and Daniel Butler, Director DBA Lawyers. For those who are interested in purchasing their first residential premises, the First Home Super Saver (‘FHSS’) Scheme may be an option worth exploring. The Treasury Laws Amendment (Reducing Pressure On Housing Affordability Measures No. 1) Bill 2017 (Cth) passed both houses on 7 December 2017, meaning [read more]
Christian Pakpahan, Lawyer and Daniel Butler, Director DBA Lawyers To reduce pressure on housing affordability, downsizer contributions provide an incentive for super fund members aged 65 years or older to sell a main residence. The Treasury Laws Amendment (Reducing Pressure On Housing Affordability Measures No. 1) Bill 2017 (Cth), which introduces downsizer contributions, passed both [read more]
By Christian Pakpahan, Lawyer and Bryce Figot, Special Counsel, DBA Lawyers Broadly, a member’s interest in a superannuation fund is fully protected upon bankruptcy. This protection even extends to lump sums being paid to the bankrupt. A question that may arise is whether this would be true if the benefit being received by the bankrupt [read more]
