Self-managed super funds (SMSFs) revolve around family members which can make them extremely vulnerable to disputes that arise when SMSF members clash over money. In the worst case scenarios, the cost of a dispute can leave the fund and its members with nothing because trustees have vested interests, established duties and legal responsibilities to the […]
Brian Hor
Top 5 reasons for not using a DIY Will Kit
There are many things in life that you can DIY (do-it-yourself) – and there are also many that you cannot (or at least, really, really shouldn’t). One of the things that should not ‘DIY’d’ is the Will. Even though you can go and buy a DIY Will Kit from the post office or a news […]
Directors are liable if their company fails to pay employee super
The director penalty regime was extended to make directors personally liable for their company’s unpaid superannuation guarantee charge (SGC) and pay as you go (PAYG) withholding amounts. They also limit the circumstances in which directors can discharge a director penalty by placing their company into voluntary administration or liquidation. These changes came into effect from […]
SMSF Estate planning: Seven estate planning issues to address for your SMSF
Here are seven estate planning issues to address for your SMSF: 1. Consider what ‘Armageddon’ is for your SMSF What is your fund’s ‘Armageddon’, or worst case scenario? This will be subjective for each SMSF. For example, in a ‘husband and wife’ fund where the wife always left the running of the fund to her […]
Finally, an Estate Planning Service with a true adviser focus
Trustees must now pay attention to ownership details and their adviser can help guide them through the process with expert estate planning support Finally, an Estate Planning Service with a true adviser focus SUPERCentral’s flagship online Estate Planning Guide and Testamentary Manual has been designed specifically to assist advisers in guiding their clients through the […]
Finally, an Estate Planning Service with a true adviser focus
Trustees must now pay attention to ownership details and their adviser can help guide them through the process with expert estate planning support SUPERCentral’s flagship online Estate Planning Guide and Testamentary Manual has been designed specifically to assist advisers in guiding their clients through the intricacies of their testamentary requirements and to gather the information […]
Update on new danger for SMSFs with zero interest related party loans
A number of recent private binding rulings released by the ATO concern limited recourse borrowing arrangements (LRBA) related party loans and appear to have foreshadowed dire tax implications for such arrangements which may be found to have uncommercial loan terms. Of most concern is the ATO’s warning that income generated from a LRBA may be […]
Wealth Protection Expert Joins Townsends Law
Townsends Lawyers have appointed senior superannuation, estate planning and tax lawyer Brian Hor as ‘Special Counsel – Superannuation & Estate Planning’. The appointment adds to the firm’s capacities in wealth protection services increasing their services in sophisticated legal advice to accountants, financial planners and their clients in the areas of superannuation, estate planning and taxation. […]