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DBA Monthly Newsletters

SMSFs, LRBAs and NALI

SMSFs, LRBAs and NALI

Overview When dealing with limited recourse borrowing arrangements (LRBAs), it is important to understand the consequences that may arise where the LRBA is not implemented and maintained on a proper basis. This is especially so in the case of a self managed superannuation fund (SMSF) undertaking a related party LRBA. The terms and conditions of [read more]

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Company constitutions and SMSFs

This article considers why the constitution of a corporate trustee is important and what should be included in an SMSF constitution. Firstly, there are many reasons why a coporate trustee is preferable to individual trustees for an SMSF. For example a corporate trustee has the following benefits over indiviuals: ease of succession planning and meeting [read more]

Electronic execution of deeds — is it here to stay?

Electronic execution of deeds — is it here to stay?

Introduction Since the beginning of the COVID-19 pandemic, legislators across the states and territories have been passing temporary legislation to allow for documents to be signed and witnessed using technology. At the date of this article, Victoria (‘Vic’), New South Wales (‘NSW’) and Queensland (‘QLD’) are still the only jurisdictions to make provision for deeds [read more]

Recent change to the tax treatment of income from super in a testamentary trust

Recent change to the tax treatment of income from super in a testamentary trust

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]

DBA Lawyers’ Annual Update Service for SMSF deeds

DBA Lawyers’ Annual Update Service for SMSF deeds

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]

Downsizer contributions –– basics, tips and traps

Downsizer contributions –– basics, tips and traps

As one of a number of ‘housing affordability’ measures where superannuation is seeking to encourage housing affordability, downsizer contributions were introduced from 1 July 2018 to allow those aged 65 or over to sell their main residence and make up to a $300,000 contribution to superannuation or $600,000 for a couple provided the relevant legislative [read more]

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The Complete Guide to Super Proceeds Trusts

DBA Lawyers is launching The Complete Guide to Super Proceeds Trusts. It covers: What exactly is an SPT? What is the key benefit of setting up an SPT? Can an SPT be set up after a member’s death? Should an SPT be set up after a member’s death? Can you have multiple discretionary income beneficiaries [read more]

Superannuation reforms – a snapshot as at 20 December 2016

By: Daniel Butler, Director, DBA Lawyers and Philippa Briglia The information below is a broad snapshot summary of recently enacted super reform measures as at 20 December 2016. Note, further reforms have yet to issue. The reforms outlined below largely apply from 1 July 2017 unless stated otherwise. Transfer balance cap A transfer balance cap [read more]