VIEW BLOGS Reading Room
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Tough love on Valentine’s Day for OTC derivatives dealers – New client money rules
Valentine’s Day saw Australia’s House of Representatives pass a Bill which will materially restrict how dealers in OTC derivatives use money deposited with them by their retail clients. The Bill is currently before the Senate. The … Continued
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Superannuation and estate planning: the golden rules
Planning for what happens to a member’s superannuation benefits on death (death benefits) is essential. A properly prepared SMSF deed is an integral part of this planning, but so is: understanding that deed and the … Continued
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Winding up a discretionary trust
There are many reasons why a discretionary trust may be wound up, including where: the trust’s purposes have been fulfilled the trust’s vesting date is drawing near. Whenever a trustee is considering winding up a … Continued
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The new Powers of Attorney in Victoria
On 1 September 2015, the Powers of Attorney Act 2014 (Vic) came into effect, changing the way Victorians create and execute Enduring Power of Attorney documents. The president of the Victorian Civil and Administrative Tribunal, … Continued
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Change of SMSF trustee: practical tips for limited recourse borrowing arrangements
If there is a change of trustee of an SMSF, then the arrangements for the handover must take into account any limited recourse borrowing arrangement which is in place (LRBA). The outgoing and incoming trustees … Continued
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Trustee discretion – making sure your deed works how you think it does
Trust Deeds – clear discretion, and internal consistency Regardless of the type of trust, the nature and reach of the trustee’s discretions are an essential feature of the relevant deed. When settling a trust deed … Continued
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SMSF borrowing and non-commercial terms – new ATO decisions released
The ATO recently published two new interpretative decisions concerning related party limited recourse borrowing arrangements and non-arm’s length income. One feature common to the decisions was the 0% interest rate applying under the relevant loan arrangements. In these … Continued
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Reversionary beneficiaries – key concepts for SMSF members and trustees
Depending on the terms of a self-managed superannuation fund’s (SMSF) deed and the terms of the pension, a member may be able to nominate a reversionary beneficiary from the beginning of the pension or at a … Continued
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ASIC releases its Strategic Outlook 2014-15
On 20 October 2014 ASIC published its Strategic Outlook for 2014-15 (Outlook). The Outlook describes the trends shaping ASIC’s regulatory focus over the next 12 months, provides examples of its intended responses to key risks … Continued
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Changes to insurance providers by SMSFs
On 30 June 2014, the Super System Review Panel delivered its final report to the Government which suggested a number of changes impacting self-managed superannuation funds (SMSFs). On 1 July 2014, one of the last … Continued
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