SMSFs can make a concessional transfer of property

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If the self-managed super fund (SMSF) is short on cash to roll over a member’s benefits it is possible for a member to transfer a property ‘in specie’ to another

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28 Nov 2017

Can a financial manager be involved in client’s SMSF?

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We recently had to consider a scenario where a Financial Manager considered establishing an SMSF on behalf of a heavily disabled client (“Individual”) and act as the sole director of

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13 Nov 2017

Can an SMSF invest in bitcoins?

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Following on from last month’s article on whether bitcoin was property, we now turn to whether a self-managed super fund can invest in bitcoin. Since their creation in 2009, there has been

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03 Nov 2017

Use of vesting order in dealing with assets held by deregistered super fund trustee companies

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When a corporate trustee is de-registered, the corporate entity ceases to exist, but this does not mean that the trust is also “de-registered”. The trust continues and any assets held

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18 Oct 2017

An EPOA should always be considered in the wider context of an estate plan

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An Enduring Power of Attorney (EPOA) is a document where a principal (a person or company) appoints an individual or individuals (called the attorney) to act for the principal in

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12 Oct 2017

What is in an SMSF name change? Quite a lot actually…

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Townsends Lawyers often receives enquiries from clients who wish to change the name of their SMSF, due to a number of reasons, and are now wondering how to make sure

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06 Oct 2017

Accountants had a duty to keep the BDBN safe and duty to bring to attention of SMSF trustee that they held the BDBN – Court case

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A significant decision has been handed down by the South Australian Court of Appeal. The critical issue was whether a binding death benefit nomination (BDBN) was valid. If valid, then

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06 Oct 2017

Common mistakes with commercial leases by SMEs

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Small business owners can be very naïve about their obligations under the lease of their business premises. A number of issues keep cropping up again and again: First – yes,

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27 Sep 2017

Downsizing retirees can boost superannuation with home sale

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People over 65 will be able to make an additional contribution to super provided they sell their house to do it. This measure was part of the May 2017 budget

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20 Sep 2017

Can you revoke a will with a file note?

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A recent Tasmanian Supreme Court case considers this question: Wills can be revoked in a number of ways, typically by creating a later Will or executing a document to that

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14 Sep 2017