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21/09/2018

Do all Casual Employees now get Annual Leave? Some casual workers, are not casual.

Do all Casual Employees now get Annual Leave? Just paying your employee as a casual is not enough. You need a complying Employment Contract. To see one have a look at the Sample above. Is your casual employee: casual or permanent? Your answer affects: 1. paid leave 2. notice of […]
11/09/2018

Pitfalls to Property Development in an SMSF and how to address them

Pitfalls to Property Development in an SMSF and how to address them You may be shocked to know there is no ban on property development in a self-managed super fund. In fact, engaging in property development through an SMSF can be a highly beneficial strategy. However, compliance with the superannuation […]
05/09/2018

Many binding death benefit nominations don’t work. But not for the reason thought. Narumon case

Build these SMSF documents online SMSF Deed – built over 18,000 times Special Purpose Company – to be trustee of SMSF Convert old Company into a Special Purpose Company – to be trustee of SMSF Binding Death Benefit Nomination – updates the SMSF Deed as well Investment Strategy – ATO audit friendly Product Disclosure […]
25/08/2018

You get 2-year period to sell a dead person’s home tax free – self assess for a further 12-months

ATO’s discretion to extend the 2-year period to sell a dead person’s home – Draft Practical Compliance Guideline PCG 2018/D6 When your parent’s die you have two years to sell their home. If you sell it within two years of death then you don’t pay any Capital Gains Tax. For example, […]
09/08/2018

Is demanding a medical certificate in an employment contract legal?

Is demanding a medical certificate in an employment contract legal? Stephen Campbell is a wharfie crane driver. He took amphetamines and opiates. He came to work. His crane smashed into a ship. He forgot to report the damage. Strangely, the Fair Work Commission in Melbourne said Stephen couldn’t be fired. […]
08/08/2018

Special Disability Trusts – avoiding Centrelink deprivation rules

Special Disability Trusts – useful for only one thing Special Disability Trusts (SDTs) started in 2006. They allow families to give private financial help. This is for the care and accommodation of a family member with a severe disability. Both the donor and disabled person avoid the Centrelink ‘deprivation’ rules. Legal […]
03/08/2018

What happens if the SMSF Trustee can’t legally own the asset?

A Trustee of Self-Managed Superannuation Fund is obliged to have all SMSF assets in its own name. For example, the Nasution SMSF Fund owns a farm in Kyneton, Victoria. The Trustee of the Nasution SMSF is Camalot Pty Ltd. By law, the legal owner of the farm must be Camalot Pty Ltd. […]
02/08/2018

Who builds your SMSF Deeds? A law firm or a non-qualified supplier

I have been preparing SMSF Deeds since 1988. As an Adjunct Professor, I have lectured at universities around Australia for over 19 years in superannuation. In contrast, non-lawyers also prepare SMSF Deeds. Non-lawyers claim to get a template document from a lawyer. They re-sell that SMSF Deed on their non-law firm […]