Welcome to our EP FAQ series, where we've gathered up some of our most frequently asked questions (and answers!) about estate planning. This series is perfect for anybody thinking about completing their estate planning documents for the first time or individuals who...
There are many reasons people entering a long term relationship may wish to agree beforehand about what happens to their wealth in the event the relationship doesn’t last. If, you entered into a prenuptial agreement with your partner in a jurisdiction outside of...
More than ever, young people are relying on the ‘bank of Mum and Dad’ to get a leg-up. Whether it’s to break into the property market or utilise some initial capital to get their new business off the ground, we are seeing more and more of our clients give (and receive!) loans from their parents.
A question we get asked often by the ‘lender’ in this scenario is whether it is possible for a loan to be advanced without the lender receiving periodic interest repayments, and instead get a share of the ‘upside’ (gain) when the financed asset is sold.
The trustee of your SMSF is all-powerful. The trustee decides how much money you can put in the fund, who else can join, how your money is invested, how much gets paid out to you and when, and finally who gets what’s left over when you die. This is why you are...
This information sheet discusses why you need to think about what happens to your super when you die People have more and more of their wealth tied up in super. People are also keeping money in super for longer during retirement – taking a super ‘pension’ rather than...
A guide to what your SMSF can, and cannot, invest in. Background Superannuation is an enforced saving scheme to move toward an overall scenario where Australian workers put aside a portion of their income so that they can self-fund their retirement, rather than...
This Solution Brief discusses what you can do to safeguard your super benefits if you lose capacity as a member and trustee of an SMSF Planning for the unexpected is never pleasant. However, when your hard-earned super benefits are at stake, our view that it’s better...
This solution brief discusses your options for appointing a trustee for your self-managed super fund, and what happens if you lose mental capacity, die, or leave the country. Single member funds A self-managed super fund can have 1 member, but care needs to be taken...
This information sheet will help you execute a Binding Death Benefit Nomination (BDBN). A BDBN enables you to direct how you want your superannuation dealt with when you pass away. This is a general guide on certain legal aspects and is not a replacement for specific...
Holding your life insurance policy through your super fund is not always as “tax-effective” as you may think. You need to think past the “deduction” for premiums. The good news Funding life insurance premiums through super can be tax effective because concessional...
We often get asked whether it is better to have a ‘company trustee’ or ‘individual trustees’ for a self-managed super fund. This question gets asked both when we are setting up a new super fund, and when we are reviewing an existing super fund. In our view, the short...
The Government just can’t help itself but tinker with super. Our courts then need to interpret what it all really means, so we know exactly what we can and can’t do. Put simply, super never stands still. But it remains worthwhile hanging in there, because you can...
It’s official: super isn’t part of your estate. A recent Federal Court Decision highlights the risk of failing to consider one of your biggest assets – your super – as part of your estate plan. The recent Federal Court Decision in Stock (as Executor of the Will of...
Payroll tax applies when the total wages expense for a business equals or exceeds $1.5 million in a financial year. Medical clinics in South Australia have not previously been paying payroll tax for payments made to General Practitioners (GPs) who provide services to...
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