SYDNEY – Wednesday 26 June 2013 The Federal Government has abandoned its in specie transfer crack-down, but it has done so discretely, a leading financial services lawyer says. ‘The Government has backed away from proposing to regulate the acquisition and disposal of assets by SMSFs where the other party is a related party; consequently, the […]
Townsends Law
Newsflash: Industry funds ‘incubate’ SMSFs, says lawyer
SYDNEY – Friday 28 June 2013 – Industry funds are the incubators for SMSFs, a leading financial services lawyer says. ‘The future of super does seem to be between industry funds and SMSFs with industry funds acting as incubators for SMSFs,’ says Michael Hallinan special counsel superannuation Townsends Business & Corporate Lawyers. Possibly the most […]
Newsflash: Chaos reigns over contributions, says lawyer
Chaos and confusion reign about contributions to SMSFs, says Caroline Harley, an Associate at Townsends Business & Corporate Lawyers.
Contribution caps must be checked and double-checked, a leading lawyer says
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 […]
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 […]
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 […]
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 […]