PRUDENCE – Sagacity. Wisdom. Protection.

PRUDENCE – Sagacity. Wisdom. Protection.

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09/01/2018

Married man marries sex worker

The songwriter Richard Clapton, in 1975, warned: Girls on the avenue, they’re trying to get you in, Strolling by with their rosebud smiles. Sadly, Mr Sha didn’t heed such advice. While living with his wife, in Melbourne, Mr Sha engaged the services of a young lady with a ‘rosebud smile’. While […]
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08/01/2018

Transfer assets from SMSF to yourself when you retire?

Using assets to pay superannuation benefits. Self Managed Superannuation Fund (SMSF) trustees often ask whether they can use assets belonging to their SMSF to pay their members’ superannuation benefits.  SMSFs trustees who contemplate doing this are trustees for SMSFs which are usually asset rich but cash poor. The term used […]
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11/09/2017

New profit centre for Accountants and Financial Advisers: Setting up a business structure

New profit centre for Accountants and Financial Advisers: Setting up a business structure This week is you setting up business structures for your clients. We have seen a 400% increase in Family Trusts and Unit Trusts being built on our website over the last 12 months. Baby boomers are refusing […]
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25/08/2017

New profit centre for Accountants and Financial Advisers: Estate Planning

  New profit centre for Accountants and Financial Advisers: Estate Planning I hope you enjoyed last week’s new area of practice: updating SMSF Deeds.  This week’s new profit centre is Estate Planning. Some people incorrectly believe that Estate Planning is about a lawyer making a Will. I have prepared an […]
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05/08/2017

Influencer Marketing for Accountants and Financial Planners

Why Accountants & Advisers need Peer Index/Peer Influence Peer index and Peer influence are two related but slightly different things. A Crowd Tap report: The Power of Peer Influence highlights that “Influencer marketing is one of the hottest topics in marketing today”. Legal Consolidated enables Accountants & Financial Planners’ voices to […]
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30/06/2017

Threat to overseas holidaymakers – SMSF’s risk 49% tax

For an SMSF to be a complying SMSF, it must satisfy the 3 residency tests. One of those tests is that central management and control of the SMSF remains in Australia. The ATO allows SMSF members to leave the country for up to 2 years. But if a member leaves […]
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29/06/2017

Life estates for your family home are silly

  Life estates are silly and old fashioned. You should instead leave everything as a percentage. If you want to benefit one particular person then increase their percentage. Therefore, your Residuary Beneficiaries will work out what they want to do with your estate. Life estates are just a prison sentence. […]
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30/05/2017

Transitional rules to reset the cost base of assets that support pensions and TRIS in SMSFs using the proportionate method

Transitional rules to reset the cost base of assets that support pensions and TRIS in SMSFs using the proportionate method Introduction Under the reforms to superannuation that come into effect from 1 July 2017 anyone that has an amount exceeding $1.6 million of superannuation in pension phase will need to […]
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