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DBA Lawyers & COVID-19 changes

Monitoring all developments As the leading SMSF law firm in Australia we have been busy assisting many clients on a range of legal, tax and SMSF issues arising from COVID-19. We are making sure our team of lawyers and support staff are keeping up to date with developments and revising our services and documents to [read more]

DBA Lawyers - Ensure an SMSF meets the residency tests

Ensure an SMSF meets the residency tests

The consequences of an SMSF failing the residency rules can be automatic non-complying status. This will broadly mean the entire amount of the SMSF’s assets, less non-concessional contributions, are taxed at 45% in the year of non-compliance (47% during temporary budget repair levy financial years of 2014-15, 2015-16 and 2016-17). The result of this is [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]

Victoria, NSW and Tasmania foreign purchaser duty update — Discretionary Trusts

Victoria, NSW and Tasmania foreign purchaser duty update — Discretionary Trusts

Since the foreign purchaser duty surcharge was first introduced in Victoria in 2015, it has been introduced in NSW, Tasmania, WA and SA (and only in respect of land tax in the ACT). The various changes in law and administrative practice in these jurisdictions, has made this a challenging area of law. In particular, the [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]

NSW Duty and Land Tax changes

NSW duty and land tax surcharge changes — action needed before 31 December 2019

By Daniel Butler ([email protected]), Director and Shaun Backhaus, ([email protected]), Lawyer, DBA Lawyers Upcoming changes There are currently changes before the NSW Parliament which, if passed into law, will have an impact for any discretionary trust that holds residential property in NSW. To minimise any risk, trustees and advisers should take action to be ready for [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]

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DBA Lawyers’ SMSF governing rules

Daniel Butler ([email protected]), Director, DBA Lawyers  Not only does DBA Lawyers have the best SMSF governing rules and related SMSF documents available, we offer many value added benefits that are not available elsewhere. Recent changes to DBA Lawyers’ SMSF governing rules The new and improved version of the DBA Lawyers’ SMSF governing rules come with [read more]