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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]

TR 2011/D3 finalised as TR 2013/5 and SMSFD 2013/2

— the ‘must know’ points After over two years of debate, draft taxation ruling TR 2011/D3 was finalised yesterday as both: taxation ruling TR 2013/5 and self managed superannuation fund determination SMSFD 2013/2. The finalised materials reveal some very positive surprises. No compliance activity before 1 July 2012 TR 2011/D3 (released in July 2011) stated [read more]

SMSFs and unit trusts

An SMSF trustee’s investment in a unit trust (‘UT’) may be a prudent investment. There are still many pre-1999 grandfathered unit trusts and there is also a growing popularity for SMSFs to invest in non-geared unit trusts. However, there are a number of key issues that may impact this type of investment. Most important is [read more]

Pensions and death

New regulations were registered on 3 June 2013 that provide much awaited clarity on the treatment of pensions upon death. As anticipated, the regulations provide that the ‘pension exemption’ will not automatically cease upon a member’s death. Surprisingly, the regulations also broadly maintain the proportioning of pensions. For example, consider Joanne. Joanne might have two [read more]

Got a non-geared unit trust? Critical action by 30 June

There is critical action that all SMSFs with non-geared unit trusts must consider by 30 June … come 1 July it may be too late! Background Generally speaking, an SMSF can’t invest in a related unit trust. However, a number of exceptions exist. One key exception is: upon acquisition — that unit trust meets the [read more]

Pensions

With TR 2011/D3 yet to be finalised — and not slated to be finalised until the Government’s October 2012 Mid-Year Economic and Fiscal Outlook (‘MYEFO’) amendments become law — some uncertainty currently surrounds SMSF pensions. Some guidance, however, can be obtained from the recently released ATO webpage, ‘Self-Managed Superannuation Funds — Starting and Stopping a [read more]

SMSF pensions

A recent ATO webpage sets out an important message regarding SMSF pensions (www.ato.gov.au/superfunds/content.aspx?doc=/content/00120916.htm). We discuss some key points. Can SMSFs that borrow pay pensions? In order to be a pension, the rules of the fund must ‘ensure that … the capital value of the pension and the income from it cannot be used as a [read more]