The streaming of different types of income in a discretionary trust to different beneficiaries is a common strategy to optimise the tax outcome for beneficiaries (eg, to maximise the value of franking credits and the general 50% CGT discount). Many advisers assume that any deed will allow for streaming, however, this is not always the [read more]
This article is part of a series on SMSF succession planning. In Part 1, we explored the key elements of a robust SMSF succession plan with a particular focus on planning for loss of capacity or death. In Part 2, we focus on the important role of binding death benefit nominations (BDBNs). What is a [read more]
The High Court in Hill v Zuda held that ‘reg 6.17A has no application to an SMSF.’ Accordingly, SMSF deeds have a great deal of flexibility as to what they do and do not allow. If they are so drafted, SMSF deeds can allow BDBNs that can override any inconsistent pension documentation. This then begs the question: [read more]
This article is the first in a series on SMSF succession planning. In Part 1, we examine the key characteristics of a sound SMSF succession plan including in relation to planning for control of the fund to pass into trusted hands in the event of a member’s death or loss of capacity. Introduction For many [read more]
In the matter of Absolute Vision Technologies Pty Ltd (subject to deed of company administration) [2024] NSWSC 1010 where a prior self managed superannuation fund (SMSF) trustee had failed to transfer title to a new trustee, a court order (more accurately speaking, ‘judicial advice’) was required to sell an asset to transfer the proceeds to [read more]
Many advisers favour automatically reversionary pensions (ARPs) as a popular strategy for SMSF succession planning. Indeed, in recent times, ARPs have gained prominence and have often been seen as the default choice by many. For instance, some focus on the 12-month deferral of the transfer balance account (TBA) credit for the reversionary beneficiary, with the [read more]
The short answer is ‘an’ SMSF. The medium answer is that it probably does not really matter, because whichever you use, your reader will almost certainly understand you. However, there is a longer and, we dare say, more fascinating answer. The rule that most of us would recall from school is that we should use [read more]
Introduction This case note was prepared shortly after the Katz v Grossman decision was handed down in late 2005 and I have updated this newsfeed as it remains relevant today and is a great ‘war story’ for advisers. Indeed, there has been a great number of cases that have since added to our understanding in [read more]
Historically, deeds were required to be written on paper (or parchment or vellum), as well as being signed, sealed and delivered. Recently, however, there have been numerous legislative developments that allow for deeds to be executed electronically, subject to certain requirements. These requirements differ depending on the Australian state/territory’s laws the deed is subject 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 2024-25) comes with the following upgrades: enhanced wording to cater for Div 296 tax; [read more]
