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Is the superannuation guarantee system in need of an urgent overhaul

Is the superannuation guarantee system in need of an urgent overhaul?

By Kimberley Noah, Lawyer and Daniel Butler, Director, DBA Lawyers Employers are required to make the minimum superannuation guarantee (‘SG’) contribution for each employee to avoid a shortfall under the Superannuation Guarantee (Administration) Act 1992 (Cth) (‘SGAA’). This appears to be a simplistic rule. If an employer does not provide the minimum SG contribution, significant [read more]

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Reversionary pension vs BDBN: which outcome is preferred?

Daniel Butler ([email protected]), Director and Bryce Figot ([email protected]), Special Counsel, DBA Lawyers Imagine a conflict between pension documentation and a binding death benefit nomination (‘BDBN’) in a self managed superannuation fund (‘SMSF’) context. For example, the pension documentation states that the pension is reversionary to the surviving spouse; however, the BDBN states that the death benefits [read more]

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DBA Lawyers’ SMSF governing rules

Daniel Butler ([email protected]), Director, DBA Lawyers  Not only does DBA Lawyers have the best SMSF governing rules and related SMSF documents available, we offer many value added benefits that are not available elsewhere. Recent changes to DBA Lawyers’ SMSF governing rules The new and improved version of the DBA Lawyers’ SMSF governing rules come with [read more]

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Single touch payroll— are SMSFs covered?

By Kimberley Noah ([email protected]), Lawyer, and Daniel Butler ([email protected]), Director, DBA Lawyers What is Single Touch Payroll? The Single Touch Payroll (‘STP’) regime was introduced to provide the ATO with real time information on employer PAYG and superannuation obligations. It also provides employees with greater transparency of their salary and reportable superannuation and fringe benefit [read more]

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Can a surviving spouse claim their deceased spouse’s super when they are also the executor of their estate?

Shaun Backhaus), Lawyer ([email protected]) and Daniel Butler, Director ([email protected]), DBA Lawyers  The recent case of Gonciarz v Bienias [2019] WASC 104 (‘Gonciarz’) continues a line of cases that consider the conflict that arises where a person acts as executor or administrator of a deceased estate while also applying to receive superannuation death benefits in their [read more]

The trustee–member rules explained: Part 2

By Kimberley Noah ([email protected]), Lawyer,and William Fettes ([email protected]), Senior Associate, DBA Lawyers The trustee–member rules set out in s 17A of the Superannuation Industry (Supervision) Act 1993 (Cth)(‘SISA’) must be satisfied on an ongoing basis by each self managed superannuation fund (‘SMSF’). Indeed, it is critical that advisers and SMSF trustees are mindful of these [read more]

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SMSFs to consider PAYG when paying the minimum pension amount prior to 30 June 2019

Daniel Butler ([email protected]), Director, DBA Lawyers Introduction An SMSF trustee paying a pension to a member who is under 60 years must generally withhold pay as you go (‘PAYG’) and pay that amount to the ATO within certain time frames. This article examines when an SMSF trustee paying a pension should pay the relevant PAYG [read more]

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Reconciling inconsistencies between reversionary pension nominations and BDBNs

By William Fettes ([email protected]), Senior Associate and Daniel Butler ([email protected]), Director, DBA Lawyers Under the ATO view set out in TR 2013/5, a member’s pension ceases for tax law purposes on their death unless an eligible dependant is automatically entitled to receive the pension as a reversionary beneficiary. A nomination will broadly fail to satisfy [read more]