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DBA Lawyers’ Annual Update Service for SMSF deeds

DBA Lawyers’ Annual Update Service for SMSF deeds

On 1 July 2020, DBA Lawyers will make available the latest version of our SMSF governing rules for all Annual Update Service subscribers. In addition to covering all relevant legal changes (including superannuation law, case law and ATO materials), the latest version of our SMSF governing rules includes many value-added features such as new COVID-19 [read more]

SMSF succession –– minimising risk given COVID-19

SMSF succession –– minimising risk given COVID-19

In recent months, we have seen a significant increase in succession planning queries and assignments where we have been asked to provide advice and/or documents, including binding death benefit nominations (‘BDBNs’), reversionary pensions, planning for control of an SMSF and implementing timely member exit strategies for those who may be left with a limited time [read more]

SMSFs, super & international issues

SMSFs, super & international issues

In today’s increasingly globalised world, it is not uncommon for many family groups (ie, fund members and their children) to have overseas-based investments, working/living arrangements and other entanglements over their lifetime. Accordingly, it is not surprising that in recent years DBA Lawyers has seen an increase in the number of matters we provide assistance on [read more]

Salary sacrifice amounts and SG changes

Salary sacrifice amounts and SG changes

From 1 January 2020 employers will also be required to provide superannuation guarantee (‘SG’) support on the amount of employee salary sacrificed contributions under salary sacrifice arrangements (‘SSA’). This article examines this change that was recently made by the Treasury Laws Amendment (2019 Tax Integrity and Other Measures No. 1) Act 2019 (Cth) (‘Act’), which [read more]

LRBAs — current tips and traps

LRBAs — current tips and traps

By William Fettes, Senior Associate ([email protected]), DBA Lawyers The limited recourse borrowing arrangement (‘LRBA’) lending market has undergone a significant shift in recent years, with most first-tier bank lenders withdrawing their LRBA offerings for purchasers of residential property. As a result, several smaller second-tier lenders have emerged to fill the void created by the departure [read more]

Puzzled businessman and a split blackboard with arrows going in two different ways red and blue side. Correct choice between left and right, failure or success. Difficult decision and doubt concept.

Reconciling inconsistencies between reversionary pension nominations and BDBNs

By William Fettes ([email protected]), Senior Associate and Daniel Butler (db[email protected]), Director, DBA Lawyers Under the ATO view set out in TR 2013/5, a member’s pension ceases for tax law purposes on their death unless an eligible dependant is automatically entitled to receive the pension as a reversionary beneficiary. A nomination will broadly fail to satisfy [read more]

DBA Lawyers’ Annual Update Service for SMSF deeds

By William Fettes,Senior Associate,([email protected]), DBA Lawyers The website for DBA Lawyers’ Annual Update Service has been updated with a number of improvements for subscribers, including a fully integrated user experience for those clients who are registered with DBA Online— our online ordering platform. This article sets out the numerous benefits and features of the service [read more]

Beautiful senior woman doing stretching exercise while sitting on yoga mat at home. Mature woman exercising in sportswear by stretching forward to touch toes. Healthy active lady doing yoga.

Work test exemption passes without bring-forward rule complications

By William Fettes ([email protected]), Senior Associate and Daniel Butler ([email protected]), Director, DBA Lawyers The work test exemption (‘WTE’) allows individuals aged 65 to 74 to make voluntary contributions to superannuation for an additional 12-month period from the end of the financial year in which they last met the work test, subject to their total superannuation [read more]

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Bare trust documents are required where fund trustees are practically unable to hold legal title to fund assets

By William Fettes ([email protected]), Senior Associate, DBA Lawyers The starting point at general law is that legal title to fund assets must generally be held in name of the current trustees of the fund. However, this is not always possible, eg, where an SMSF trustee is unable to hold legal title, and title is instead [read more]

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Custodian appointment documents are required where fund trustees are practically unable to hold legal title to fund assets

By William Fettes ([email protected]), Senior Associate, DBA Lawyers The starting point at general law is that legal title to fund assets must generally be held in name of the current trustees of the fund. However, this is not always possible, eg, where an SMSF trustee is unable to hold legal title, and title is instead [read more]