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Gain valuable industry insights and commentary through the Topdocs techncial articles. They provide a great way to keep up to date and informed.

Please note our technical articles are for information purposes only and do not constitute legal advice.

 

Technical Articles

SMSF trustees are approaching the biggest change to the operation of their SMSF since 2007, when Simpler Super was introduced. Prior to the 2007 changes, 1999 was a time of major change, when the term ‘Self Managed Super Fund’ took over from ‘Excluded Fund’, preservation and in-house asset changes were…
SMSF Trustees are approaching the biggest change to the operation of their SMSF since 2007, when Simpler Super was introduced.Prior to the 2007 changes, 1999 was a time of major change, when the term ‘Self Managed Super Fund’ took over from ‘Excluded Fund’, preservation and in-house asset changes were made,…
In September 2016, the ATO released a Taxation Determination TD 2016/16 which provided guidance to trustees who could not, or who decided not to, meet the Safe Harbour guidelines of the previously released ATO Practical Compliance Guidelines on related party limited recourse borrowing, PCG 2016/5. With a rather lengthy title…
Your Will is a legal document that sets out directions for the administration and disposal of your assets after death. Whilst most people are familiar with the concept of a Will, many are surprised to learn that a Will cannot automatically control the distribution of their interests in Companies, Trusts…

Opening up the Strategy options for BDBNs

Tuesday, 23 August 2016 09:00
Provided their Trust Deed permits, SMSF members can construct Binding Death Benefit Nominations in a similar fashion to a Will, enabling complex estate planning strategies for their SMSF Along with pension reversionary nominations, Binding Death Benefit Nominations (BDBNs) are the most common means by which a member will allocate the…
The appointment of a SMSF Guardian provides security for underage members of a SMSF. This article uses a case study to bring reality to a SMSF Guardian appointment. Although a parent will generally act as the Guardian on behalf of an underage member of a SMSF, who looks after the…
Changing the trustee of your trust involves more than just a trustee resolution. Care must be taken to ensure the appointment is effective and the Trust does not incur any stamp duty obligations A number of considerations need to be addressed when changing the trustee of your Discretionary, Unit or…
On 6 April 2016, the ATO released compliance guidelines for the maintenance of related party limited recourse borrowing arrangements (LRBAs) on an arm's length basis. This article reviews the Practical Compliance Guidelines (PCG 2016/5) and considers the practical ramifications of those guidelines. Background In November 2015, the ATO updated its…
Senior Lawyer at Topdocs Legal, Lav Chhabra, outlines the key legislative reasons that preclude individual trustees from using electronic signatures to execute their SMSF and other trust deeds in NSW, QLD, SA and WA, and the complications associated with companies using electronic signatures generally. The financial services industry is continually…
In July 2012, the ATO released a finalised version of two previous draft taxation rulings on the deductibility of TPD insurance premiums paid by superannuation funds. This paper details the rules applicable to the deduction for insurance premiums paid by SMSFs, following the changes in 2012. Ruling The ruling, Taxation…
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