Top Navigation

Categories | Announcements

Stocktake on recent superannuation changes – when will the Government give us a long-term vision?

Daniel Butler, Director ([email protected]) We have recently experienced substantial superannuation changes during the period of 1 July 2017 to 30 June 2018. I therefore provide a brief ‘stocktake’ of the changes introduced by the current Coalition Government. A number of these policies were adverse to many members. Prime Minister Malcolm Turnbull has said that the [read more]

Index finger pointing at Home symbols on a touch screen menu

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]

trust concept agreement with hand hold pencil signing paper document on clipboard on wood table

DBA Lawyers’ discretionary trust –– managing the extra duty and land tax surcharges on foreigners

Shaun Backhaus ([email protected]), Lawyer and Daniel Butler ([email protected]), Director, DBA Lawyers DBA Lawyers can supply a discretionary trust deed to exclude foreign persons from being beneficiaries. We do not automatically exclude foreign persons as this may exclude beneficiaries forever and may have substantial long-term implications. Moreover, with eight different jurisdictions with different legislation and with [read more]

CLECKHEATON, WEST YORKSHIRE, UK: JOKER PLAYING CARD ON GREEN CLOTH GAMING TABLE, CIRCA 2007, CLECKHEATON, WEST YORKSHIRE, UK

Proposed SG amnesty raises opportunities and risks

By Christian Pakpahan, Lawyer and Daniel Butler, Director, DBA Lawyers On 24 May 2018, the government announced a 12 month superannuation guarantee (‘SG’) amnesty (‘Amnesty’) that proposes to give employers an opportunity to rectify past SG non-compliance without penalty. If the Treasury Laws Amendment (2018 Superannuation Measures No. 1) Bill 2018 (‘SG Bill’) is ever [read more]

DBA Lawyers - Ensure an SMSF meets the residency tests

Ensure an SMSF meets the residency tests

By Daniel Butler, Director, DBA Lawyers 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 [read more]

featured

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]

ATO's view on SMSFs and reserves

SMSFRB 2018/1: ATO’s view on SMSFs and reserves

Joseph Cheung, Lawyer and Daniel Butler, Director, DBA Lawyers The Australian Taxation Office (‘ATO’) has issued SMSF Regulator’s Bulletin SMSFRB 2018/1 ‘The use of reserves by self-managed superannuation funds’. This is the most comprehensive material ever released by the ATO on the use of reserves by self managed superannuation funds (‘SMSFs’). This article highlights the [read more]

1906066

Webinar on SMSF reserves

Today the ATO issued SMSF Regulator’s Bulletin SRB 2018/1 ‘The use of reserves by self-managed superannuation funds’, which is the most comprehensive material that the ATO has ever released on the use of reserves in SMSF. In particular, SRB 2018/1 highlights the ATO’s concerns about new and emerging arrangements that pose potential risks to SMSFs [read more]

1421723

Want reversionary pensions up to a beneficiary’s TBC? New offering from DBA Lawyers: Death Benefit Payment Deed

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]

Complaints at customers service fill in complaint form and leave

Financial Ombudsman Service soon to be replaced with the Australian Financial Complaints Authority

By Shaun Backhaus, Lawyer and Daniel Butler, Director DBA Lawyers Financial Ombudsman Service The Financial Ombudsman Service (‘FOS’) is an industry body that resolves disputes between consumers and financial services providers that are members which operate in Australia. FOS is self-regulated by industry members with its costs met by the financial services providers. FOS’s dispute resolution [read more]