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This question and answer sheet was prepared following a recent webinar on VRLT presented by DBA Lawyers. A number of queries were raised at this webinar. This Q&A is a summary of the key queries with brief answers. Naturally, we would be pleased to assist with any query. Q-1. Can VRLT be tax deductible? A-1. [read more]
Overview Unless a discretionary trust deed excludes foreign persons, foreign trustees and foreign corporations, significant additional duty and land tax is typically imposed if the trust acquires residential property. The best way to minimise such tax is to make sure you obtain assistance from a quality supplier and obtain advice well in advance. Why did [read more]
ASIC recently took action against a number of approved SMSF auditors. ASIC felt that the approved SMSF auditors’ conduct did not meet the required standards and the action taken by ASIC included: disqualifying some auditors; imposing additional conditions on some approved SMSF auditors ; and cancelling the registration of other approved SMSF auditors. For more [read more]
In an urgent matter brought to Shariff J as the vacation duty judge this January, the risks to SMSF compliance, where all members of the fund become disqualified persons, were on full display with orders needing to be granted simply to allow the disqualified members to act to wind up the fund. The case, Barry, in [read more]
I will be once again returning to the University of Melbourne to impart some of the knowledge I have gained in the 30+ years working in the fields of superannuation and tax. Having presented at the University of Melbourne previously, it is great to have the chance to go back and present on how the [read more]
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