Collapse of online document provider (Charterhill) recently highlights the problems for advisers with some budget solutions to complex SMSF client needs Advisers face reputation risk and PI risk in recommending providers who may not be ‘in for the long haul’. With over 90 changes in SMSF laws, regulations and practices in last year alone, it’s […]
Peter Townsend
Longevity now makes the only certainties death, taxes … and paperwork
Most urgent decisions by people reviewing such paperwork are: Enduring Power of Attorney Enduring Guardianship Living Will or Advanced Health Care Directive With increasing longevity, the only certainties in life are death and taxes – and now, paperwork, a leading superannuation lawyer says. Peter Townsend principal Townsends Business & Corporate Lawyers says Australians now need, […]
The annuities vs pensions wars break out
Highlights from Townsends Business & Corporate Lawyers principal Peter Townsend Annuities are risky if the company providing them goes belly up; ‘Budgeter Bob’ is not covered by the government protection to certain deposits with banks. Account-based pensions are risky if the market moves unfavourably. ‘Fast Eddie’ must continue to draw the minimum annual amount required […]
SMSF borrowing – The bare facts on LRBA trusts from Peter Townsend
It is not recommended that the lender act as the bare trustee in a bare trust. The rights over the property as the lender would likely conflict with the obligations as bare trustee and would erode the bare trust status.
Newsflash: Qld changes to LRBAs ‘positive’ for trustees
Changes to the duties law in Queensland will ‘positively’ affect an SMSF buying property in Queensland through a limited recourse borrowing arrangement (LRBA), says Townsends Business & Corporate Lawyers principal Peter Townsend.