When advisers hear the word ‘segregation’ in an SMSF context, they typically think of segregation for tax purposes. Broadly, this type of segregation involves calculating a fund’s exempt current pension income exemption for a financial year under the segregated method, with any capital gains (or losses) in respect of ‘segregated current pension assets’ being disregarded. [read more]
On 3 August 2020 the ATO released draft legislative instrument Self Managed Superannuation Funds (COVID-19 Rental income deferrals – In-house Asset Exclusion) Determination 2020 for industry consultation. The determination is intended to protect SMSF trustees from adverse compliance problems under the in-house asset rules where, due to COVID-19, a rent deferral arrangement has been put [read more]
SMSFs paying market linked pensions (‘MLPs’) should carefully review the potential impact of recent changes to the transfer balance cap (‘TBC’) rules where an MLP that commenced prior to 1 July 2017 was commuted or restructured on or after that date. The Treasury Laws Amendment (2019 Measures No. 3) Act 2019 (Cth) received royal assent [read more]
![Sutton v NRS(J) Pty Ltd [2020] NSWSC 826: Lessons for managing lost trust deeds](https://www.dbalawyers.com.au/wp-content/uploads/2020/07/Lessons-for-managing-lost-trust-deeds-200x200.jpg "Sutton v NRS(J) Pty Ltd [2020] NSWSC 826: Lessons for managing lost trust deeds")
The recent decision of Sutton v NRS(J) Pty Ltd [2020] NSWSC 826 highlights the importance of having original executed copies of all constituent trust documents. It has tremendous relevance for SMSFs. Facts The facts of the case were as follows: In 17 August 1972, a discretionary trust (‘Trust’) was established for the benefit of the [read more]
Overview The article focuses on the tax treatment of superannuation proceeds that are paid to a testamentary trusts and the interaction of div 6AA of the Income Tax Assessment Act 1936 (Cth) (ITAA 1936’) which covers excepted trust income (‘ETI’). This is an important topic because unless a minor beneficiary is an excepted person or [read more]
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]
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]
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]
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]
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]
