Over the past two months at Abbott & Mourly Lawyers we have had numerous accountants seeking our advice on what to do with requests by SMSF auditors for membership applications – some from twenty years ago. The SMSF auditors have […]
As a SMSF pioneer I get asked this question all the time and with the ATO new trust rulings it is a great time to lock this strategy in particularly the tax consequences and what compliance documents are needed to […]
Tim Munro, my fellow Director at the Succession, Asset Protection and Estate Planning Advisers Association (“SAPEPAA”) is riled up about the changes to the taxation of Trusts brought on by the Commissioner of Taxation. There are a number of important […]
The Commissioner has stated on several occasions that the super laws that establish binding death benefit nominations (BDBN) – do not apply to SMSFs. Particularly in SMSFR 2009/3 which states that: “Section 59 of the Superannuation Industry (Supervision) Act 1993 (SISA) and […]
1. Introduction It is projected that more than $300Bn in SMSF monies will be transferred from current SMSF members by way of death benefit transfers over the next 20 years. And for someone who has been in the SMSF industry […]
I have been at the super, asset protection, tax, and estate planning advice game for a long time and have written more than two million words on strategy, legal, and technical issues. For a long time now, I have been […]
Accountants are great with numbers, so too are financial planners – it’s our safe zone. Cash flow bonus – done and dusted. Bear market ETF’s – no problem. Tax-free pension income post age 60 – that’s a given. Numbers, tax […]
The SMSF trust deed is crucial to the success and longevity of any fund, yet so few trustees and, for that matter, their accountants, advisers, and auditors take the matter seriously. For such a small outlay to upgrade a SMSF […]
Introduction We all know that when a member of a superannuation fund – retail, industry or SMSF dies, any taxable component will be taxed in the hands of non-dependants at a rate of 17%. This is a death benefits tax […]
For decades, it has been common practice to split spouses into the ‘at-risk’ spouse and the supposed ‘risk-free’ spouse. So while the at-risk spouse, being a doctor, professional, or business owner, is out there making money and building wealth, the family’s assets […]
