Blog / Recent Blogs
Transfer balance cap increase
From 1 July 2021 the transfer balance cap (threshold for superannuation pension) will increase from $1.6M to $1.7M for any person who did not have a superannuation pension. For ones who had a pension the matter is much more complex.
Government considers easing SMSF record-keeping process
Historically some of the SMSF documents have been excluded from the Electronic Transactions Act (ETA) 1999, which allows for scanned documents. The Government now considering to remove this exclusion which may simplify the SMSF document archiving.
Key aspects for SMSF trustees to be aware of in 2021
This article looks at a few points you need to be aware of regarding upcoming changes to SMSFs.
Understanding your options with reversionary pensions
A reversionary pension is a way to control the superannuation death benefit payment. Like anything else in life there are advantages and disadvantages of using that strategy.
Related party LRBA variations and PCG 2016/5
This article from DBA Lawyers discusses the ATO practical compliance guideline regarding related party limited recourse borrowing arrangements and its application to non arm’s length income ‘safe harbour’.
Six member SMSFs — important trap hinted at by the Senate Economics Legislation Committee
This article from DBA Lawyers discusses the increase of the SMSF to 6 members and looks at traps hinted by the Senate Economics Legislation Committee and case studies.
SMSFs and 50/50 unit trusts
This article from DBA Lawyers discusses the SMSFs and the 50/50 unit trusts and looking at issues like related trusts and the ATO approach towards it.
Trustee and unitholder liability in unit trusts
This article from DBA Lawyers discusses the trustee and unit holder liability in unit trusts including discussion of when may a director of a corporate trustee be held to be personally liable. As well as when a trustee may not have a right to indemnity; and looking at whether unitholders can be personally liable.
Downsizer contribution tips and traps
This article looks at tips and traps regarding downsizer contributions.
Discretionary Trust NSW Duty Land Tax
This article looks at the changes to NSW Duty and Land Tax from 31 December 2020 whereby discretionary trusts by default will assume that there is a foreign beneficiary and therefore a surcharge will be applied.
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