Are you up to speed on the latest process to rollover a member of an SMSF?

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Rollovers from one SMSF to another must comply with the technical requirements. Elizabeth Wang from Townsends Law has summarised those requirements to save you time. John and Mary have an

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The impact of transfer balance cap indexation

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Starting 1 July 2021, the transfer balance cap (“TBC”) will be indexed from $1.6 million to $1.7 million (“Indexed TBC”). Although this change sounds like good news, it does come

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What happens when the last surviving trustee dies?

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Mary being the sole individual trustee of her trust has recently passed away. Her daughter Sarah is her executor. Because Mary was the sole individual trustee of the trust this

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Hands off! Getting money back from a trustee

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What happens when a trustee places the beneficiary’s money into their own account? Trustees are under a multitude of responsibilities when it comes to managing the trust. One particularly important

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Federal Budget 2021 – Super changes

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1. Budget 2021 super changes – overview The 2021 Budget can be summarised in one line – as a great budget for superannuation.  The Budget sets out major beneficial changes

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SMSFs and binding death benefit nominations – where is your limit?

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The superannuation environment may offer great tax efficiency in passing a member’s death benefits to their dependents, however there is a rider – the member will not have full control

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Can an SMSF member with a majority interest in the Fund expel another member? 

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The maximum number of members in an SMSF is expected to increase from 4 to 6 in near future. With economies of scale/pooling of resources, this could open doors to

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SMSF death benefits – the case for flexibility

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We often want certainty. In a world where there is increasing conflict between family members after a parent dies, and a greater propensity for children to challenge a deceased person’s

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Uncertain future of attorneys making BDBNs for their principals

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While the facts of a recent NSW Supreme Court case, G v G (No.2) [2020] NSWSC 818, relate to a financial manager appointed under the NSW Trustee and Guardian Act 2009 (NSW)

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Benefitting a non-dependant from your super

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A withdrawal and recontribution strategy could over time permit a member to transfer a material part of their superannuation to a non-dependant who would not ordinarily be entitled to receive

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