Employers have many tax and superannuation obligations when it comes to their employees. While there is a common law test for whether someone is an ‘employee’, different legislation expands the ...
Employers have many tax and superannuation obligations when it comes to their employees. While there is a common law test for whether someone is an ‘employee’, different legislation expands the ordinary meaning to deem particular individuals to be employees when they are not. This can create significant problems where employers
The NSW Civil and Administrative Tribunal has set aside a notice of assessment for transfer duty on the transfer of real estate from one sole member SMSF to another
Employers need to be careful of a couple of traps where their employees are working overtime.
Another administrator of a deceased estate has ended up in court because of the conflict between her role as administrator of her late husband’s estate and claimant of his death benefit.
Until recently, whether compulsory superannuation had to be paid in respect of annual leave loading was a confused issue. The ATO has now provided clarification in a recent announcement.
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.
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.
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.