New rules about identifying clients involved in property transactions

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From 1 May 2016 a new set of rules came into place in various States about client identification for the purposes of registration of property dealings. The transitional period ended

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27 Oct 2016

Executors work hard for the money – so you better treat them right!

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Generally, where an executor of a deceased’s estate is a spouse, family member or friend, for example, they are not entitled to remuneration, particularly if they already receive a benefit

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31 Aug 2016

SMSF sector needs to be very wary of digitally signing trust deeds

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Peter Townsend is recommending that SMSF trust deeds signed electronically in the eastern states are revisited and signed with a wet signature on an actual deed document as required by

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25 Feb 2016

Lost trust deed – trustee is in their 80s – should it be a cause for panic?

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Forgetfulness and ageing often seem to go hand in hand. Whether it’s full blown dementia that is getting acres of space in the media these days because the baby-boomer, damn

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12 Jun 2015

SUPERCentral launches estate planning training program

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What do financial planners and accountants have to do to meet the challenge of revenue loss resulting from government regulation and technological replacement of their customary roles? Financial planners are

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04 May 2015

SMSF trustees – this is the Tax Office calling

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You have your own SMSF and you’re therefore a trustee of the fund.  The phone rings late one afternoon. You answer the phone. It’s the ATO wanting to discuss a

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02 Apr 2015

ASIC now allowing SMSFs access to wholesale investment products

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Until recently SMSFs couldn’t buy wholesale financial products because ASIC had held they were retail investors unless they had at least $10 million of net assets. ASIC has recently announced

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09 Oct 2014

Why do so many people not have a will?

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And 2/3rds of existing wills are likely to be out of date  More onerous revenue claims against wills/estates have led to the increasing desire to protect estates from future claims ‘Blended

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08 Sep 2014

Contribution timing errors ‘dire’, says lawyer

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Contribution timing errors have dire implications, a leading financial services lawyer has warned. ‘Now is the time to check and double check those contribution caps,’ says Peter Townsend, principal of

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24 May 2013

Renovating property inside an SMSF

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Some investors have misconstrued the ATO’s decision to allow SMSFs to renovate older residential housing. Many have missed the point that renovations can only occur for ungeared property if trustees are

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08 Aug 2012