Overview In today’s market, there are numerous options available for obtaining legal documents such as SMSF, company and trust deeds and related documents (Legal Documents). This article explores the advantages and disadvantages of sourcing documents from a non-legally qualified supplier (Non-Qualified Supplier) compared to a law firm. In this article, we aim to provide relevant [read more]
Background Since 1 July 2023, a Windfall Gains Tax (WGT) has been applied to land in Victoria that is rezoned from one zone type to another where the rezoning results in a value uplift to the land of more than $100,000. WGT is a substantial tax on the increased value of land in Victoria with [read more]
The streaming of different types of income in a discretionary trust to different beneficiaries is a common strategy to optimise the tax outcome for beneficiaries (eg, to maximise the value of franking credits and the general 50% CGT discount). Many advisers assume that any deed will allow for streaming, however, this is not always the [read more]
On 13 December 2024, the Victorian Government announced a substantial increase (between 100% to 190%, depending in the type of land involved) and other changes to the Fire Services Property Levy (FSPL). All property owners in Victoria are required to pay this levy apart from certain exemptions and concessions. Rename the levy The current FSPL [read more]
The Victorian Government announced changes to the congestion levy as part of its 2024/25 Budget Update on 13 December 2024. This levy affects off-street car parking spaces in Melbourne’s central business district (CBD) and surrounding inner suburbs. This article follows on from the recent DBA article Congestion levy on parking spaces (Melbourne) and discusses some [read more]
The Victorian government has introduced a range of new or increased taxes in recent times. This article provides a brief summary on some of the recent changes to Victorian taxes relating to real estate. Commercial and Industrial Property tax From 1 July 2024 the Commercial and Industrial Property tax (CIPT) commenced. This new tax relies [read more]
DBA Lawyers has always focused on providing quality documents and service instead of competing with other document suppliers on price. As lawyers advising on unit trust investments, we better understand the needs and risks inherent in such transactions and develop our documents based on this experience. We often advise clients who have not obtained appropriate [read more]
While DBA is recognised as Australia’s leading SMSF law firm, it is also well known for its trust law experience and trust documents. We believe that we offer an excellent discretionary trust deed that is easy to read, provides great flexibility and reflects the latest legal developments. As lawyers advising on discretionary trust issues and [read more]
DBA Lawyers latest SMSF governing rules and related documents include many value-added features. This article briefly explains why our SMSF documents are the best available. Recent changes to DBA Lawyers’ SMSF governing rules Our latest DBA Lawyers’ SMSF governing rules (version 2024-25) comes with the following upgrades: enhanced wording to cater for Div 296 tax; [read more]
Unless carefully managed, unpaid present entitlements (UPEs) and beneficiary accounts in family/discretionary trusts can give rise to significant tax risks. Section 100A anti-avoidance provisions Section 100A of the Income Tax Assessment Act 1936 (Cth) (ITAA 1936) is an anti-avoidance provision that applies to arrangements where one person receives a benefit from a trust but another [read more]