When you have seen one blended family – you’ve seen one blended family

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Many lawyers talk about ‘blended families’ as if they are all pretty much the same. Like, if you’ve seen one, you’ve seen them all.  But that is not the case

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Controlling commutation of a child pension

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Husband (H) and wife (W) are members of a self-managed superannuation fund, and as part of their estate planning, they want to direct the trustee of the fund to set

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The retrospective effect of The State Revenue Legislation Further Amendment Act 2020 (NSW) on discretionary trusts 

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An important reminder that discretionary trusts that have already sold all residential properties before the deadline of 31 December 2020 could still be assessed for foreign surcharge purposes under the

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Reversionary pensions that don’t revert

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What happens where, at the time of death of the pensioner, a reversionary pension fails to revert because the nominated reversionary pensioner (an SIS Act dependant) is not eligible to

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Local Government Super invests in mental health through partnership with SuperFriend

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NSW based Local Government Super (LGS) has announced its partnership with national workplace mental health organisation SuperFriend, effective 1 October. LGS was first established in 1997 to serve the superannuation

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Borrowing strategy banned from testamentary trust concessions

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Recently the government passed new laws which limit the treatment of income from a testamentary trust paid to minor beneficiaries of the trust as “excepted trust income” (which would be

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COVID-19 rent deferral IHA relief

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The ATO has issued draft SPR 2020/D2 which when registered will exempt SMSFs that allow a rent deferral to a related party tenant from the in-house assets (“IHA”) provisions in

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Superannuation proceeds trust: excepted income changes

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The recent Tax Act amendment on excepted income of testamentary trust distributions may potentially affect superannuation proceeds trusts (“SPT”) that are structured as testamentary trusts.  The amendment is an integrity

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ATO concerns with SMSF property development

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The ATO has issued SMSFRB 2020/1 (“SMSFR”) to highlight its main concerns in relation to SMSF property development.  It is comprehensive and traverses structuring, investment rules, NALI and the anti-avoidance

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COVID-19: Summary on early release of superannuation

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The Coronavirus Economic Response Package Omnibus Act 2020 (“the Act”) received assent on 24 March 2020.  Schedule 13 of the Act amends the SIS regulations to make provision for COVID-19

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