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.
corporate trustee
Managing an SMSF when dementia affects a member
John and Mary have an SMSF with a corporate trustee and are the current members of their SMSF. Mary is experiencing the early on-set symptoms of dementia and has an enduring power of attorney where she has appointed the NSW Trustee and Guardian to act as her attorney.
Can an SMSF member with a majority interest expel another member?
If there is an unfortunate falling out, can a member with majority interest in the SMSF expel another member?
Buy your retirement home now in your SMSF and use it when you retire?
Garry and Betty are the directors of the corporate trustee of their SMSF. They are contemplating acquiring a property through their SMSF, which they plan to lease to an unrelated third party at market value until both of them reach their preservation age and retire as a condition of release.
SMSFs wanting 6 members – Townsends Law ready to assist
With 6-member funds likely to become a reality very soon, if you or your clients want to establish or vary their fund to accommodate 6 members we’re ready to help.
Is your corporate trustee ‘asset specific’?
It’s ‘horses for courses’ when choosing a corporate trustee for your SMSF, Peter Townsend elaborates.
Is it possible to admit your child as a member to your SMSF?
Bob and Barbara have recently established an SMSF with a corporate trustee and want their 17-year-old son, Ben, to join their SMSF. Can Ben join?
Related party loan to SMSF – when is a loan not a loan?
John is the sole member of his SMSF and is the sole director of the fund’s corporate trustee. After seeking financial and tax advice on the benefits of owning a property in his SMSF, John decides to sell his investment property valued at $1m to his SMSF.