SMSF vs Divorce – Not a perfect couple

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21/01/2017

SMSF vs Divorce – Not a perfect couple

Breaking up is hard to do. What happens to your SMSF when you divorce? Mum and Dad love Self-Managed Superannuation Funds (SMSFs). There are over 500k SMSFs in Australia. The average balance is $1M. SMSF vs divorce: an unhappy matrimony One in three marriages end in divorce. In a divorce, […]
16/01/2017

Superannuation Death Tax – 17% or 32% tax for adult children when parents die

When you die with superannuation two questions arise: Firstly, who gets the money? How can you ensure it goes where you want and not where the trustee decides? Secondly, what tax is payable by the recipient? What steps can you take to reduce the tax burden on the recipient? This […]
12/01/2017

Brett Davies Lawyers has moved

Brett Davies Lawyers has moved Since 1994, Brett Davies Lawyers has been at the Ground Floor, 201 Adelaide Terrace, Perth, WA. We have moved to Ground Floor, 39 Stirling Highway, Nedlands, WA. While I continue to own the business name ‘Brett Davies Lawyers’ I have decided to practice under ‘Legal Consolidated Barristers […]
10/01/2017

Unit Trusts lasting 80 years extend longer? How many Unit Holders is allowable?

Can a Unit Trust live forever? A Unit Trust is similar to a company. Each Unit gives an exact value of interest in the Unit Trust’s assets. Say there are two units in the Unit Trust. If you own one unit, you own 50% of the Trust’s assets. If you […]
09/01/2017

99.6% of Super Funds in Australia are SMSFs – SMSF statistics

2014-15 SMSF statistics – 1/3rd of Australia’s Super is in SMSF Legal Consolidated Barristers & Solicitors and the ATO releases this year’s SMSF Statistics. 1. What is the percentage of SMSF accounts of all Super Funds? 99.6% of funds in Australia are SMSF funds 2. Of the $2.1 trillion in […]
09/12/2016

Reversionary Pensions

Reversionary Pensions from dead husband – do they count towards your $1.6m pension? Reversionary pensions allow your spouse’s super to remain in super after they die – but there are problems. You can have more than $1.6m in your Superannuation fund. However, your pension is limited to $1.6M: Division 294 ITAA 97 […]
08/12/2016

SMSF vs 3-Generation Testamentary Trust

SMSF vs Testamentary Trust ‘No longer is Super a tax haven or an Estate Planning tool – it is only for your retirement.’ Canberra speaks Super ‘loop-holes’ closed On 1 July 2016, the Liberals successfully passed legislation to make it harder to get wealth into Super – and then harder […]
06/12/2016

Safe sender list

Whitelist or add email addresses to your safe sender list in your email account To stop [email protected] going into junk or spam folders: go to ‘junk’ emails and ‘mark as not spam or junk’; or add to your Contacts; or add it to your safe sender list To add to safe sender […]