The recent Victorian decision of Re Marsella; Marsella v Wareham (No 2) [2019] VSC 65, demonstrates what not to do as a trustee when paying a death benefit from a ...
The recent Victorian decision of Re Marsella; Marsella v Wareham (No 2) [2019] VSC 65, demonstrates what not to do as a trustee when paying a death benefit from a self-managed superannuation fund, and, very importantly, what not to do as a trustee’s adviser. The case is a perfect example
Since the introduction of the new superannuation rules that apply from 1 July 2017, there have been technical issues with transition to retirement income streams (TRIS). For examples, see our earlier publication TRIS and the new amendments to the 2016 Budget measures.
The government has released draft legislation that provides more scope for contributions to superannuation once someone has turned 65. Generally, the trustee of a superannuation fund can only accept a contribution for someone who has turned 65 (and is under 75) if they satisfy the work test in the year
Over the last few years, courts have been called upon to consider whether the executor or administrator of a deceased estate can claim a superannuation death benefit for themselves, or whether they are conflicted from doing so.
The recent decision of Re Narumon Pty Ltd raises the question of what a trustee’s obligation is when continuing to pay a pension to a nominated reversionary beneficiary, or otherwise paying a death benefit, in circumstances where documentation is missing or incomplete.
As a general rule, the trustees and beneficiaries of a deceased estate are able to disregard any CGT implications from the sale of a deceased person’s principal residence, provided the sale of that property settles within two years of the deceased’s death.
We previously reported on the draft taxation determination 2018/D3 released by the ATO. That draft set out the view of the ATO that a ‘trust split’ may trigger CGT consequences. Although the ATO has admitted there is no case law dealing directly with the implications of a trust split, the
One of the major changes to superannuation from the 2016 Budget was the introduction of transfer balance caps. The new rules require a fundamental shift in how we think about estate planning where there are funds in superannuation, particularly SMSFs.
In Re Narumon [2018] QSC 185, the Supreme Court of Queensland has confirmed that an attorney has the power to make, renew or extend a superannuation binding nomination on behalf of a member.
The ATO has released draft taxation determination 2018/D3, outlining their view that a trust split potentially triggers CGT consequences (CGT event E1).
Cooper Grace Ward recently acted for a trustee of a self-managed superannuation fund in an application to the Supreme Court of Queensland in relation to the ability to pay a death benefit from the SMSF.
We have had a busy period dealing with the changes to superannuation that have applied from 1 July 2017. The Budget made changes to pensions, commuting pensions, withdrawing money from superannuation and updates to trust deeds. All of these changes can have quite significant implications on the effectiveness of a
Cooper Grace Ward acknowledges and pays respect to the past, present and future Traditional Custodians and Elders of this nation and the continuation of cultural, spiritual and educational practices of Aboriginal and Torres Strait Islander peoples.
Fast, accurate and flexible entities including companies, self-managed superannuation funds and trusts.