When discussing contribution strategies with clients, advisers should be mindful not to present contribution reserving as a straightforward exercise, as there are a number of practical issues and potential risks that should be carefully considered before proceeding with a contribution reserving strategy. This article discusses some of the common hurdles and risks to assist in [read more]
In this episode of the DBA Lawyers Podcast, Zacharia Galloway, Lawyer and Daniel Butler, Director, discuss non-lapsing BDBNs and the special tax treatment of SMSFs. Zac and Dan discuss non-lapsing BDBNs and examine the recent case of Hill v Zuda [2021] WASCA 59. Importantly, this case upheld prior decisions that confirm that the 3-year sunset rule [read more]
On 21 May 2021, Treasury released exposure draft legislation to implement previously announced measures in the May 2019 Federal Budget to streamline how superannuation funds claim exempt current pension income (ECPI) in respect of pensions. This article examines the proposed changes in the draft legislation using case studies to illustrate how ECPI would be claimed. [read more]
Bryce Figot is excited to soon be presenting a series of three and half hour seminars for CPA Australia in various locations in regional Victoria. They should be great seminars. These seminars will cover and explore: latest cases; legislation; regulatory developments; and other tips and traps. To register, or for more information, visit: For Traralgon (Tuesday [read more]
Introduction Traditionally, deeds were unable to be made electronically due to the common law requirement that a deed must be written on ‘paper, parchment or vellum’. With a global shift headed towards an ever-advancing technological world, the demand for the ability to make a deed electronically is on the rise. Unfortunately, the question as to [read more]
The 2021–22 Federal Budget (released on 11 May 2021) announced changes for some — but not all — legacy pensions. In this article, we examine the strategic implications, remaining questions and what advisers should do for clients with certain legacy pensions. Background — pre 2007 Originally SMSFs were able to commence paying members ‘defined benefit pensions’. [read more]
Introduction There are a considerable number of SMSFs that invest in private unit trusts. These unit trusts may include pre-99 unit trusts, unrelated unit trusts and non-geared unit trusts (under div 13.3A of the Superannuation Industry (Supervision) Regulations 1994 (Cth) (SISR)). The ATO’s draft Law Companion Ruling 2019/D3 (Draft LCR) outlines, among other things, the [read more]
The Western Australian Court of Appeal recently handed down its decision in Hill v Zuda Pty Ltd [2021] WASCA 59. It provides a strong answer to the question of how long a binding death benefit nomination can last for in ALL Australian jurisdictions. Facts Ms Hill was the only child of Alec Kumar Sodhy (Deceased). [read more]
In this episode of the DBA Lawyers Podcast, Zacharia Galloway, Lawyer and Shaun Backhaus, Lawyer, discuss SMSFs investing in unit trusts including 50-50 unit trusts and non-geared unit trusts (NGUT). Unit trusts are a popular investment vehicle for SMSFs as it allows for SMSFs to enter into investments with both related and unrelated parties. There [read more]
Key facts The case of Re Owies Family Trust [2020] VSC 716 (Owies) provides many lessons for trustees and advisers dealing with discretionary trusts. This article focuses on one key issue raised in Owies, being the limited variation power that did not allow for a number of purported variations. Owies involved a dispute between the [read more]
