Division 296 first floated in March 2023 A report on the proposed Division 296 tax, being an additional 15 per cent tax to future earnings of member balances above $3 million from 1 July 2025, was released by Treasury on 2 March 2023 titled ‘Impact Analysis Better Targeted Superannuation Concessions’ (Report). The Report examined how [read more]
The recent Federal Court decision in Simpson v Taylors Business Pty Ltd [2025] FCA 835 involved a company director seeking leave to personally represent the company in ongoing proceedings. The case highlights several factors the Court considered in declining to dispense with the general requirement under the Federal Court Rules that corporate parties are legally [read more]
The recent Court of Appeal decision in Oliver Hume Property Funds (Broad Gully Rd) Diamond Creek Pty Ltd v Commissioner of State Revenue [2024] VSCA 175 (Oliver Hume) has highlighted potential implications for investors that invest in companies and/or unit trusts that invest in property. his article examines the Court of Appeal decision and implications [read more]
Background/overview As a lawyer, I do a lot of work advising and representing approved SMSF auditors who the ATO are reviewing/auditing. I also advise and represent auditors who the ATO have referred to ASIC. Accordingly, the recent Sidhu decision very much piqued my interest. This decision involved an approved SMSF auditor (Mr Sidhu) who the [read more]
Recent changes to Queensland trust law allows for trusts to vest up to 125 years after the commencement date of the trust, including a discretionary trust, testamentary trust and unit trust. The extended vesting date should be reflected in new trust deeds while a variation to extend the vesting date of an existing trust deed [read more]
Under the DBA Lawyers’ company constitution, a director is empowered to nominate a successor director (SD) to be appointed as a director upon the occurrence of their loss of capacity or death (ie, a ‘trigger event’). Upon a trigger event, the nominated SD is automatically appointed as a director, provided they consent and either hold [read more]
The recent Federal Court case of Lynn v Australian Financial Complaints Authority [2025] FCA 175 involved a legal challenge to a determination made by the Australian Financial Complaints Authority’s (AFCA) on payment superannuation death benefits from a large public-offer fund. The case provides useful guidance on AFCA’s role in handling death benefit complaints, the grounds [read more]
In April 2025, the Full Court of the Federal Court of Australia (Full Court) handed down the latest decision in respect of the Merchant group. This decision is not directly about SMSFs. However, it nevertheless contains an important lesson for SMSFs. The full decision is available at <https://www.austlii.edu.au/cgi-bin/viewdoc/au/cases/cth/FCAFC/2025/56.html> Facts In the 2015 financial year, the [read more]
The ATO can disqualify an individual from having an SMSF. However, the ATO has discretion as to when it exercises this power. Contraventions can occur without disqualification. A recent ART decision sheds light on when disqualification might not occur. The ART decision is Omibiyi and FCT [2025] ARTA 553. The full text is available at [read more]
DBA Lawyers is pleased to announce our new suite of legacy pension commutation documents. Pursuant to the amnesty provisions, these documents allow for a member to fully commute the following types of legacy pensions within the prescribed 5-year amnesty period (7 December 2024 – 6 December 2029): a complying lifetime pension (CLP) (ie, a pension [read more]
