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

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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 CGT relief from selling the main residence more than 2 years after death – Practical Compliance Guideline PCG 2019/5 When your parent’s die you have two years to sell their CGT family home. (A family home is […]
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

All our 3-Generation Testamentary Trust Wills contain Special Disability Trusts Special Disability Trusts – useful for only one thing Special Disability Trusts allow families to give private financial help. But this is only to a ‘disabled’ family member. This is for their care and accommodation. The family member must have […]
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 […]
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 […]
21/06/2018

Distributing to a non-resident beneficiary in your Family Trust – it just got harder

A modern Australian Family Discretionary Trust has 100,000 of beneficiaries. Such beneficiaries have few rights. So you make the class of beneficiaries as wide as you can. It is not just distant family members, charities and education institutions. A beneficiary in your Family Trust is either ‘resident’ or ‘non-resident’ for […]
18/05/2018

Divorce Protection Trust in Wills – stop step-children taking your money

Divorce Protection Trust in your Will – stop step-children taking your money at death Your daughter-in-law knows you have money and that you are old. She tolerates living with your son a little longer. You die. She immediately leaves your son. She asks the Family Court for half of your […]