Trusts are most commonly established by a deed. Those deeds contain the terms or rules that control how the trust can be used, and the rights and duties the various parties to the trust have or owe. In our experience, trust deeds are regularly misplaced and lost.
Townsends Law
Questions over adding children to your SMSF
From 1 July 2022, employers will need to pay super for their employees who are under 18 years old if they work more than 30 hours in a week.
New headaches for NSW property owned by SMSFs
Amendments made last month to the NSW Duties Act could cause material headaches to super funds holding real estate in NSW.
Carter court case most important since Bamford
In possibly the most significant trust tax case since Bamford (2010), the High Court has held that the attempt to undo, by means of an “after the event” disclaimer, the tax consequences of a default distribution clause of a discretionary trust was ineffective for taxation purposes.
Electronic signatures – permanent measures coming
What were once the rules about executing legal documents using handwritten (so-called ‘wet’) signatures have been completely altered to allow for Covid-19 safety measures.
Work test changes for superannuation
The Federal Government would like us to work longer. The longer we work the less likely we are to claim our aged pension entitlements and the longer our superannuation will last.
Can an SMSF invest in NFTs?
First it was bitcoins and now it seems that NFTs are gaining traction particularly in mainstream pop culture. You have only to look at the recent Super Bowl which featured an array of NFT projects.
Accidental vesting of an SMSF
In essence a self-managed superannuation fund is a special form of trust and satisfies general trust law as the assets of the fund are held on trust by a trustee to provide retirement or death benefits for its members, with those members being the beneficiaries.