What is the superannuation transfer balance cap and why should you care?
Everyone gets a $1.6 million cap on the assets that can support a tax-free super pension. You and your spouse each get a separate cap. But super pensions that pass to you from your spouse when they die may put you over your cap. This will have adverse tax outcomes. You need to plan for this as part of your estate planning.
Distributing assets from a family trust to a beneficiary – no stamp duty in SA
In South Australia it is possible to transfer a property from a family trust to a beneficiary without stamp duty. Find out how.
What is an unpaid present entitlement or ‘UPE’?
If you have a discretionary family trust, then chances are your accountant has mentioned ‘unpaid present entitlements’ or ‘UPEs’. No doubt you have just nodded wisely, but deep down, do you really know what this means?
Are you about to pay off your SMSF ‘limited recourse borrowing’ loan?
If you are about to pay off your limited recourse borrowing loan (or have recently done so), you are probably wondering what to do next. You might want to simplify your super fund investments and wind up the custodian trust. Or you might be planning your next property purchase. In this article, we answer the […]
Why do all doctors have a trust?
Doctors earn their money by ‘doing things’. Performing surgery, diagnosing an illness. This is great from a ‘personal fulfilment’ perspective, but not so great from a ‘personal tax’ perspective.
Are trusts a ‘tax loophole’ exploited by the wealthy?
People who say this are just demonstrating their ignorance. Here’s why. The ability to use a trust as a ‘tax loophole’ was pretty much closed out in the 1970-80s. To suggest that trusts somehow make tax disappear for the ‘wealthy’ is plain silly.
Some less obvious observations about the 1 July super changes…
As most people now know, from 1 July 2017 the amount a super fund member can have in a pension account will be capped at $1.6 million. There has been a lot of general commentary on these changes, but little deeper analysis of the details.
Are your trade secrets walking out the door?
Losing an employee, whether by dismissal or resignation, is never easy. But it’s even harder when the employee walks out the door with a head (and possibly a briefcase or USB) full of your confidential information.
Is there any CGT or stamp duty when a joint tenant transfers their interest to the other joint tenant?
Is there any CGT or stamp duty when a joint tenant transfers their interest to the other joint tenant?
Do you need to pay stamp duty on a trust deed in New South Wales (NSW)?
Yes. Duty of $500 is payable on the deed that establishes a family discretionary trust (and other forms of trusts).