Many SMSF members do not plan ahead in relation to what is to happen with their superannuation upon loss of capacity, death or other relevant life events. Indeed, in DBA Lawyers’ experience, a considerable proportion of SMSFs have outdated, inappropriate or no succession plans in place. Unfortunately, such lack of planning can give rise to [read more]
On 13 September 2023, Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Bill 2023 (Cth) was introduced into the House of Representatives (NALE Bill). The NALE Bill provide guidance on changes to the non-arm’s length expense (NALE) provisions introduced in s 295-550(1)(b) and (c) of the Income Tax Assessment Act 1997 [read more]
DBA Lawyers latest SMSF governing rules and related documents include many value-added features. This article briefly explains why our SMSF documents are the best available. Recent changes to DBA Lawyers’ SMSF governing rules Our latest DBA Lawyers’ SMSF governing rules (version 2023-24) comes with the following upgrades: express power for the proposed $3m+ tax on [read more]
There is a provision in the Superannuation Industry (Supervision) Regulations 1994 (Cth) (SISR) that on its face appears to allow a person of any age to receive their preserved benefits. More specifically, item 108 of sch 1 to the SISR appears to provide that even preserved benefits may be paid to a superannuation fund member [read more]
Every year, ongoing changes are made to our super, tax and related laws that impact SMSFs. Failing to respond to these changes can result in SMSF trustees failing to maximise opportunities, being limited in their actions and being exposed to legal and other risks. For example, an SMSF deed with limited investment powers may be [read more]
The ATO has recently updated its guidance on how the transfer balance cap (TBC) rules apply where a market linked pension (MLP) that was in place prior to 1 July 2017 has been commuted or restructured on or after that date. We examine below the ATO’s current approach (see CRT Alerts 007/2022 and 010/2022) to [read more]
The High Court of Australia has settled the debate on how long an SMSF BDBN can last for. Implicitly this judgement also provides support in answering other critical SMSF succession planning questions, such as: Can a BDBN make a pension reversion mid-stream? Can a BDBN override pension documentation? Do you actually want a BDBN to [read more]
DBA Lawyers latest SMSF governing rules and related documents include many value-added features. This article briefly explains why our SMSF documents are the best available. Recent changes to DBA Lawyers’ SMSF governing rules Our latest DBA Lawyers’ SMSF governing rules (version 2022-23) comes with the following upgrades: express exclusion of reg 6.17A given the High [read more]
On Monday 4 April 2022 the Government made new laws impacting pensions (see the Treasury Laws Amendment (Allowing Commutation of Certain Income Streams) Regulations 2022 (Cth)). Those in particular with legacy pensions should pay close attention! Over 200 years ago, on 7 March 1795, English newspaper The Hull Advertiser announced that ‘[t]he licence to wear hair [read more]
New laws provide a strategic opportunity for exiting certain legacy pensions. We will cover this opportunity in great detail in a webinar to be held at 12 noon (AEST) Thursday 28 April 2022. Those who can’t attend can watch a recorded version. To register visit https://attendee.gotowebinar.com/register/3108445138265877264 In this article we detail the preliminary ‘ins and [read more]
