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Total superannuation balance and limited recourse borrowing arrangements: Part 2

Joseph Cheung ([email protected]), Lawyer and Daniel Butler ([email protected]), Director, DBA Lawyers Under certain circumstances, an individual member’s total superannuation balance (‘TSB’) will be increased by their share of the outstanding balance of a limited recourse borrowing arrangement (‘LRBA’) that commenced on or after 1 July 2018 when the Treasury Laws Amendment (2018 Superannuation Measures No. [read more]

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Superannuation proceeds trusts: can you establish one after a client’s death?

By Bryce Figot ([email protected]), Special Counsel, DBA Lawyers (Note: this article is only a very brief discussion of one aspect of superannuation proceeds trusts — for a complete guide to superannuation proceeds trusts, see https://www.dbalawyers.com.au/dba-news/the-complete-guide-to-super-proceeds-trusts/) In this article I discuss whether a superannuation proceeds trust can be set up after death. However, first I pause [read more]

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Total superannuation balance and limited recourse borrowing arrangements: Part 1

Joseph Cheung, Lawyer and Bryce Figot, Special Counsel, DBA Lawyers If the Treasury Laws Amendment (2018 Superannuation Measures No. 1) Bill 2018 (‘Bill’) becomes law, an individual member’s total superannuation balance (‘TSB’) may be increased by their share of the outstanding balance of a limited recourse borrowing arrangement (‘LRBA’) that commenced on or after 1 [read more]

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The new ‘ipso facto’ regime and SMSFs

Joseph Cheung ([email protected]), Lawyer and Daniel Butler ([email protected]), Director, DBA Lawyers The new law pertaining to ‘ipso facto’ clauses came into operation on 1 July 2018. This article highlights the relevance of the new law for SMSFs. Note that the law in this area is complex and a detailed and careful analysis is required to [read more]

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Payments above ABP minimum documentation now covers TRISs in retirement phase

Joseph Cheung ([email protected]), Lawyer and Daniel Butler ([email protected]), Director, DBA Lawyers   Many in the industry are aware of the potential trap caused by the transfer balance cap (‘TBC’) for SMSF members who receive payments above the account-based pension (‘ABP’) minimum annual amount. Naturally, unless appropriate documentation is in place prior to the payment being made, [read more]

Minimising lost opportunity: Payments above ABP minimum

Minimising lost opportunity: Payments above ABP minimum

Joseph Cheung, Lawyer and Daniel Butler, Director, DBA Lawyers Significant time has passed since the introduction of the transfer balance cap (‘TBC’). During this period, many have become aware of the potential trap caused by the TBC for SMSF members who receive payments above the account-based pension (‘ABP’) minimum annual amount, and have responded by [read more]

SMSF succession strategies

SMSF succession strategies

Daniel Butler, Director There are many strategies put forward on how to provide smooth and effective succession for self managed superannuation funds (‘SMSFs’). Fortunately, while there is no ‘one size fits all’ solution, there are a number of strategies that are simple and cost effective that can substantially bolster your position and set the ‘foundations’ [read more]

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Why should the deposit be paid by the SMSF trustee?

Joseph Cheung ([email protected]), Lawyer and Daniel Butler ([email protected]), Director, DBA Lawyers When self managed superannuation funds (‘SMSFs’) borrow to acquire real property, one of the common mistakes is not having the deposit paid from the bank account of the SMSF trustee. This article highlights the importance of the deposit being paid the SMSF’s bank account [read more]

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Important Supreme Court decision provides further guidance on binding death benefit nominations

By: Daniel Butler, Director ([email protected]) and Bryce Figot, Special Counsel ([email protected]), DBA Lawyers The recent decision by the Supreme Court of Queensland in the case of Re Narumon Pty Ltd [2018] QSC 185 (‘Narumon’) again confirms the importance of having a quality SMSF document supplier. More specifically, it shows how poorly drafted binding death benefit nomination [read more]

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The sole purpose test substantially clarified by the Full Federal Court in Aussiegolfa Pty Ltd v Commissioner of Taxation.

Daniel Butler ([email protected]), Director, and William Fettes ([email protected]) Senior Associate, DBA Lawyers A recent unanimous decision of the Full Federal Court represents a major win for SMSFs and taxpayers on the topic of the sole purpose test. This decision overturns the primary judge’s decision at first instance in Aussiegolfa Pty Ltd v Commissioner of Taxation [read more]