In this episode of the DBA Lawyers Podcast, Zacharia Galloway, Lawyer and Daniel Butler, Director, discuss the upcoming appeal to the High Court to consider the decision of Hill v Zuda Pty Ltd  WASCA 59 (Hill v Zuda).
In Hill v Zuda, the Western Australia Court of Appeal appeared to have settled the debate and confirmed that an SMSF BDBN can last indefinitely provided that the deed for the SMSF was written appropriately. The Court of Appeal stated in it’s decision that it was sound law “until such time as the decision is overruled by the High Court”. This decision will now go before the High Court who will ultimately decide whether a BDBN can be indefinite or whether it is subject to the Superannuation Industry (Supervision) Act and Regulations, requiring a BDBN to lapse after 3 years.
Zac and Dan discuss the possible outcomes of this appeal to the High Court and what it will mean for the SMSF industry if High Court overturns the decision in Hill v Zuda. They also discuss the importance of having quality documents that are prepared and signed off on by lawyers.
Bryce Figot, Special Counsel, will be presenting DBA Network Pty Ltd’s SMSF Online Update on 11 February 2022. To register, please click here.
For a chance to have your SMSF query addressed on the show, please send your questions to [email protected].
Related articles and links below.
Hosts (in order of appearance): Zacharia Galloway, Lawyer and Daniel Butler, Director
30 November 2021