Conference Papers

Death And Incapacity And The SMSF: Who Steps In To Call The Shots?

Death And Incapacity And The SMSF: Who Steps In To Call The Shots?

The general requirement of an self managed superannuation fund (SMSF) is that all members must be trustees of the SMSF or directors of the SMSF corporate trustee. As such, putting aside disputes between trustees/directors, generally members are making the decisions about their benefits and the assets of the SMSF.

, ,

The Top Three Key Cross-Border Tax Issues In The Estate Plan

, ,
The Top Three Key Cross-Border Tax Issues In The Estate Plan

The increased global mobility of individuals and online transactions, together with the deregulation of financial markets and exchange controls since the 1980s, mean that cross-border estate tax issues are, in many instances, “the new black”.

,

Death Benefits: BDBNs or Retain Trustee Discretion?

,
Death Benefits: BDBNs or Retain Trustee Discretion?

Upon the death of a member of a self managed superannuation fund (SMSF), the member’s benefits in the SMSF must be cashed ‘as soon as practicable’ after the member dies under regulation 6.21(1) of the Superannuation Industry (Supervision) Regulations 1994.

,

Tax Traps in CGT Rollovers

,
Tax Traps in CGT Rollovers

Many business owners may be considering a restructure, merger, or demerger in the current economic environment to adapt, sustain, or promote growth in these tumultuous times. A change in a corporate structure typically entails either the change of ownership interests in the entire business or the transfer of specific assets of the business.

,

Defining the beneficiaries of a discretionary trust

,
Defining the beneficiaries of a discretionary trust

This article looks at the scope of the definition of the term “beneficiary” in a discretionary trust deed, and, in particular, examines the ambiguities that sometimes arise in relation to the terms “spouse” and “child” within that definition

,

SMSFRB 2020/1– where are we now with SMSFs and property development?

,
SMSFRB 2020/1– where are we now with SMSFs and property development?

SMSFs (self managed superannuation funds) have been carrying on property development activities ever since SMSFs came into existence. Yet despite that there is still a common concern that such activities will cause the SMSF to become non-compliant, or subject to penalties, on the basis that such activities, and in particular undertaking a property development business, are prohibited.

,

Business in an SMSF: Is it Ever a Good Idea?

,
Business in an SMSF: Is it Ever a Good Idea?

SMSFs (self managed superannuation funds) have been carrying on business and business like activities ever since SMSFs came into existence. Yet despite that there is still a common concern that such activities will cause the SMSF to become non-compliant, or subject to penalties, on the basis that such activities are prohibited.

, ,

Transfer to a trustee found to be non-dutiable

, ,
Transfer to a trustee found to be non-dutiable

The Victorian Court of Appeal’s decision in MD Commercial Pty Ltd v Commissioner of State Revenue [2019] VSCA 295 was a culmination of the battle between the Victorian Commissioner of State Revenue and the taxpayers’ statutory interpretation of a duty exemption contained in s 35 of the Duties Act 2000 (Vic) (Act) and whether the trustee had to be in a “bare trustee” relationship with no active powers being held by the trustee.