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]
Overview Draft Law Companion Ruling LCR 2019/D3 (‘LCR’) covers the ATO views on how the amendments to s 295-550 (of the Income Tax Assessment Act 1997 (Cth)) operate where parties to a scheme do not deal with each other at arm’s length and an SMSF incurs non-arm’s length expenditure in gaining or producing assessable income. Broadly, [read more]
By William Fettes ([email protected]), Senior Associate, and Daniel Butler ([email protected]) Director, DBA Lawyers 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 [read more]
Daniel Butler and I are senior fellows at Melbourne Law School and lecture a subject titled LAWS70267 Taxation of Superannuation. It’s a five day intensive subject. It will next run in February 2020. We’ve been putting the finishing touches on it to ensure the subject is fully up to date for all changes. The subject [read more]
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]
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]
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]
By Daniel Butler, Director ([email protected]), DBA Lawyers What is Single Touch Payroll? The Single Touch Payroll (‘STP’) regime was introduced to provide the ATO with real time information on employer PAYG and superannuation obligations. It also provides employees with greater transparency of their salary and reportable superannuation and fringe benefit entitlements. From 1 July 2019, all employers, [read more]
Shaun Backhaus, Lawyer ([email protected]) and Bryce Figot, Special Counsel ([email protected]), DBA Lawyers The DBA Network SMSF Podcast is now in full swing with our third episode being released in the first week of June. Below we give an overview of what is discussed in the May and June podcasts. June 2019 – Election results and [read more]
Daniel Butler ([email protected]), Director, DBA Lawyers On 12 March 2019 the Australian Taxation Office (‘ATO’) updated their website to clarify its approach to dealing with the application of annual leave loading (‘AL loading’) for the purposes of the superannuation guarantee (‘SG’) regime. 1 SG and ordinary time earnings (‘OTE’) Superannuation is broadly payable on an [read more]
