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Deed of trust

Why you should order discretionary trusts from DBA Lawyers

While DBA is recognised as Australia’s leading SMSF law firm, it is also well known for its trust law experience and trust documents. We believe that we offer an excellent discretionary trust deed that is easy to read, provides great flexibility and reflects the latest legal developments. As lawyers advising on discretionary trust issues and [read more]


Recent AFCA decision protects SMSF interests

A recent Australian Financial Complaints Authority (AFCA) decision highlights the consequences for financial advisers when they fail to meet their service obligations. Under the Corporations Act 2001 (Cth) (CA) financial advisers are required to ‘act in the best interests of the client’ and ‘must only provide advice if it would be reasonable to conclude that [read more]

Trader writing increasing graph on coins stacking for investment profit growth and saving concept.

Victoria’s new annual tax on commercial and industrial property from 1 July 2024

Overview A new commercial and industrial property (C&I Property) tax of 1% p.a. applies in Victoria from 1 July 2024. This new tax will be levied on the land’s unimproved value and is payable in addition to any land tax. Duty on the purchase of C&I Property will be phased out. This article reflects the guidance [read more]

Trader writing increasing graph on coins stacking for investment profit growth and saving concept.

Vacant Residential Land Tax in Victoria soon to be extended

The Appointor of a discretionary trust is a role created under the terms of the trust that usually provides for that person to have the ultimate control of the trust. For example, the Appointor under the DBA Lawyers’ trust deed: • must consent to any variations to the trust deed; • has power to appoint [read more]


Watch out for extra transfer duty on property investments via a company or unit trust

Overview Structuring property investments via a company or unit trust may give rise to landholder duty for non-related investors as highlighted in Oliver Hume Property Funds (Broad Gully Rd) Diamond Creek Pty Ltd v Commissioner of State Revenue (Review and Regulation) [2023] VCAT 634. This decision resulted in an additional $151,235 of duty plus interest [read more]


Federal Court confirms AFCA award of $270,000 against a financial adviser for investment loss is a debt due and payable

The Federal Court of Australia held that a self managed superannuation fund (SMSF) could recover the amount of an Australian Financial Complains Authority (AFCA) determination relating to a compensation claim against a financial adviser for an investment loss. This article focuses on SMSF trustees rights to complain and seek compensation via AFCA for inappropriate financial [read more]


Your discretionary trust may unwittingly be subject to extra duty

Background The foreign purchaser additional duty (FPAD) provisions of the Duties Act 2000 (Vic) (Act) may add an extra 8% land transfer duty on residential property purchases in Victoria if there is a foreign beneficiary of your discretionary trust. This article examines how the Victorian FPAD regime applies with respect to discretionary trusts, as many [read more]


Transferring overseas super/pension savings to Australia

Overview With an increasing number of overseas countries opening up and the trends moving towards greater global mobility, it is becoming more common for advisers to be asked ‘Can I transfer my overseas super/pension savings to Australia?’. The answer to this question is complex and unless carefully managed can result in unexpected taxes and penalties. [read more]