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 ...
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.
We reported the initial Federal Court decision in the Aussiegolfa (DomaCom) case late last year. The full Federal Court has handed down its decision on the appeals (Aussiegolfa Pty Ltd (Trustee) v Commissioner of Taxation [2018] FCAFC 122).
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
On 24 May 2018, the Government introduced a 12 month superannuation guarantee amnesty. The amnesty provides incentives for businesses to self-correct historical errors in relation to compulsory superannuation.
The Treasury Laws Amendment (2018 Superannuation Measures No. 1) Bill 2018 contains updated provisions to include an additional increase to a member’s ‘total superannuation balance’ when an SMSF has outstanding borrowings.
SMSFs pay tax on ‘non-arm’s length income’ (NALI) at the top marginal tax rate, rather than the concessional rates that usually apply to income earned in SMSFs.
Although the 2018/19 Federal Budget was relatively uneventful compared to previous years, the Government did announce that the maximum number of members allowable in self-managed superannuation funds (SMSFs) will be increased to six (up from four) from 1 July 2019.
From 1 July 2018, there is a new contribution cap – the downsizer contributions cap.
A Treasury consultation paper issued on 11 January 2018 includes some new integrity measures. One of these is proposed changes to the non-arm’s length income (NALI) rules that were announced in the 2017 Budget.
A Treasury consultation paper issued on 11 January 2018 includes new integrity measures, one of which will affect SMSFs entering into new borrowing arrangements (LRBAs) after 30 June 2018.
The recent case of Aussiegolfa Pty Ltd (Trustee) v Commissioner of Taxation [2017] FCA1525 is a reminder to SMSF trustees of the Commissioner’s wide power to deem assets to be in-house assets and of the reach of the sole purpose test when considering investments.
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.