By Daniel Butler, Director, DBA Lawyers Acquiring shares via an employee share scheme (‘ESS’) in an self managed superannuation fund (‘SMSF’) can appear attractive but SMSF trustees have to be careful of the in house asset and the related party acquisition rules. Broadly, a company can via an ESS provide employees the opportunity to acquire [read more]
Daniel Butler ([email protected]), Director, DBA Lawyers The eligibility criteria for individuals who wish to bring forward their non-concessional contributions (‘NCCs’) cap post-1 July 2017 is more rigorous and complex than ever before. However, bringing forward an individual’s NCCs cap will still remain a popular strategy to boost an individual’s superannuation balance. Special transitional arrangements apply [read more]
The transitional capital gains tax (CGT) relief (ie cost base reset rules) allows SMSFs to choose to reset an asset’s cost base to the asset’s market value prior to 1 July 2017. My prior newsfeed article ‘Transitional CGT relief for pension and TRIS assets for FY2017’ provided a detailed outline of how the relief applies [read more]
By Daniel Butler, Director, DBA Lawyers, and William Fettes, Senior Associate, DBA Lawyers Introduction There are a few different ways that individuals can contribute money into superannuation for the benefit of their spouse. Taking advantage of these contribution options can help spouses achieve parity in relation to their respective super account balances over time and [read more]
By Daniel Butler, Director and Shaun Backhaus, Lawyer DBA Lawyers Introduction While DBA is recognised as Australia’s leading SMSF law firm, it is also well known for it’s great depth of tax and trusts expertise. In particular, DBA Lawyers offers an excellent discretionary trust deed that is easy to read, provides great flexibility and reflects [read more]
William Fettes, Senior Associate, Daniel Butler, Director, DBA Lawyers The new rules that govern when a transition to retirement income stream (‘TRIS’) enters retirement phase give rise to a number of complex issues in the context of reversionary nominations and death. This article examines the retirement phase rules and reversionary TRISs in detail, based on [read more]
By Shaun Backhaus ([email protected]), Lawyer and Daniel Butler ([email protected]), Director DBA Lawyers Background Foreign purchaser additional duty (‘FPAD’) was introduced in Victoria from 1 July 2015 which adds an extra 7% land transfer duty on residential property purchases in Victoria if there is a foreign beneficiary of your discretionary or family trust (s 28A Duties [read more]
Daniel Butler, Director, DBA Lawyers This article examines the query of whether having a second or, indeed even more than two, self managed superannuation funds (‘SMSFs’) would give rise to a Part IVA (of the Income Tax Assessment Act 1936 (Cth) (‘ITAA36’)) risk. Please note that this article is not intended to be a technical [read more]
Daniel Butler, Director and William Fettes, Senior Associate, DBA Lawyers The tax treatment of death benefits paid from an SMSF to a deceased member’s estate can be complex. Tax law contains a ‘look through’ provision in respect of death benefits paid to an estate (ie, to a legal personal representative being the executor of a [read more]
By Daniel Butler, Director, DBA Lawyers Introduction The Australian Prudential Regulation Authority (‘APRA’) has just updated its Superannuation Prudential Practice Guide SPG 280 — Payment Standards (‘SPG’) in June 2017. Of interest in the SPG are APRA’s comments on the retirement definition in the Superannuation Industry (Supervision) Regulations 1994 (Cth) (‘SISR’), in particular it is [read more]
