Highlights If lawyers and/or clients are going to make further contributions before June 30 it is important to learn from those who have gone before you and fallen foul of the ATO through contribution timing errors with dire implications, says Peter Townsend. Rule 1: When is a payment actually made? Verschuer v FCT [2013] AATA […]
Media Releases
Newsflash … pre-Budget commentary: SMSFs are still a worthwhile investment
Newsflash … pre-Budget comment on SMSFs and property SYDNEY Monday 29 April 2013 – Despite proposed Federal Budget changes to superannuation, SMSFs are still a worthwhile investment, a leading lawyer says. Highlights For super investors with very large super balances, there will be a reduction in level of concessions, but this reduction must be kept […]
Investors rush in to risk, warns fund manager Pengana
Investors are shifting from concern over return of capital to returns on capital, and financial advisers are warning clients against too much risk.
Ensuring that the trust deed is compliant and up to date is a duty of the trustee
Ensuring that the trust deed is compliant and up to date is a duty of the trustee: Townsends Business & Corporate Lawyers Drafting and mending a superannuation trust deed is not a power that the trustee has discretion to perform or not to perform and is a function that the trustee has to delegate to […]
SISFA has made a pre-Budget submission for complete removal of threshold test
SISFA has made a pre-Budget submission to Government calling for the complete removal of the $500,000 threshold test Small Independent Superannuation Funds Association (SISFA) understands the cost to administer the current proposal is a serious concern for Government. SISFA’s long standing view is that the best and most efficient way to tackle the proliferation of […]
Business Real Property in SMSFs
Business Real Property in SMSFs: SuperCentral Many SME business owners have ownership of the property where they work or, in many cases, aspire to owning their business premises. For many an SMSF is the ideal entity for their business real property (BRP). This article looks at some key issues to consider: land tax, stamp duty […]
Charged but not convicted – can you have an SMSF?
Charged but not convicted – can you have an SMSF? Townsends Business & Corporate Lawyers Can ‘youthful indiscretions’ disqualify someone from being an SMSF Trustee? So, you want to establish an SMSF but had some youthful indiscretions where charges were proven but no conviction was recorded. Where does that leave your plan for an SMSF? […]
Why do so many people not have a will?
Why do so many people not have a will? Townsends Business & Corporate Lawyers The current available survey evidence is that 50% of adults in Australia do not have a Will. Combine this statistic with the estimated two thirds of existing Wills likely to be out-of-date owing to an individual’s changed circumstances, this leaves around […]