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SMSFs must tread carefully when dealing with employee share schemes interests

By Gary Chau, Lawyer, and Daniel Butler, Director, DBA Lawyers The idea of acquiring shares from employee share schemes (‘ESS’) in an self managed superannuation fund (‘SMSF’) can be attractive for many reasons, but SMSF trustees have to be mindful of the in‑house asset and the related party acquisition rules. Broadly, a company can via [read more]

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How will the First Home Super Saver Scheme work for SMSFs?

Christian Pakpahan, Lawyer and Daniel Butler, Director DBA Lawyers. For those who are interested in purchasing their first residential premises, the First Home Super Saver (‘FHSS’) Scheme may be an option worth exploring. The Treasury Laws Amendment (Reducing Pressure On Housing Affordability Measures No. 1) Bill 2017 (Cth) passed both houses on 7 December 2017, meaning [read more]

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How will downsizer contributions work for SMSFs?

Christian Pakpahan, Lawyer and Daniel Butler, Director DBA Lawyers To reduce pressure on housing affordability, downsizer contributions provide an incentive for super fund members aged 65 years or older to sell a main residence. The Treasury Laws Amendment (Reducing Pressure On Housing Affordability Measures No. 1) Bill 2017 (Cth), which introduces downsizer contributions, passed both [read more]

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Triggering your bring forward non-concessional contributions cap post-1 July 2017

Joseph Cheung, Lawyer and Daniel Butler, Director, DBA Lawyers The eligibility criteria for individuals who wish to bring forward their non-concessional contributions (‘NCCs’) cap post-1 July 2017 is more rigorous and complex than ever before. However, bringing forward an individual’s NCCs cap will still remain a popular strategy to boost an individual’s superannuation balance. Special [read more]

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Spousal contributions and contributions split

By Gary Chau, Lawyer, and William Fettes, Senior Associate, DBA Lawyers Introduction There are a few different ways that individuals can contribute money into superannuation for the benefit of their spouse. Taking advantage of these contribution options can help spouses achieve parity in relation to their respective super account balances over time and provide increased [read more]

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Key questions answered for downsizer superannuation contributions

By Christian Pakpahan, Lawyer and Bryce Figot, Special Counsel, DBA Lawyers In the Federal Budget released in May 2017, the government announced an additional $300,000 of superannuation contributions for those aged 65 or more and who sell their home. However, the initial announcement left a number of key questions unanswered. One key question is as [read more]

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Total superannuation balance and small business CGT contributions post 30 June 2017

Philippa Briglia, Lawyer, and Bryce Figot, Special Counsel, DBA Lawyers Introduction One important point that may have been overlooked in the midst of the reforms is that while members with a total superannuation balance (‘TSB’) of $1.6 million or more on the last 30 June will not be able to make any non-concessional contributions (‘NCCs’) [read more]

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Many strategies are based on the proportioning rule

Co-author by Daniel Butler, Director, DBA Lawyers Introduction We have had numerous queries about the proportioning rule over recent times. A common query is how does the proportioning rule apply and how do you calculate the tax free and taxable components in a superannuation benefit. This article is to assist you understand the fundamentals of [read more]