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

What is a Unit Trust? A Unit Trust is very similar to a company. Each Unit gives an exact value of interest in the Trust’s assets. Say there are two units. If you own one unit, you own 50% of the Trust’s assets. If you own 1,000 in 10,000 units, […]

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 […]

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 […]

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 […]

Old family trust deeds – 6 problems

  Revamping old Family Trust Deeds 6 Problems with old Family Trust Deeds and how to fix them Your old Family Trust is like your car. It needs updating from time to time for: Streaming provisions Franking credits Attribution to distribute capital gain Extension of the Capital Gains Tax regime […]

Safe sender list

Whitelist or add email addresses to your safe sender list in your email account To stop 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 […]

Garden leave in Employment Contract

  Garden leave in Employment Contracts Ron Dennis vs McLaren F1 team Ron Dennis and the McLaren F1 team had a fight. Even the world of Formula 1 is not protected from the clutches of employment law. It's a perfect example of Garden leave. What is garden leave? 'Gardening leave is […]

Contractor vs Employee

  Contractor vs Employee Many contractors are now employees - under the new rules You call yourself an independent contractor. Your business operates out of a company. However, the new rules mean that you are still an employee. The Contractor vs Employee question is now murky. What is an ‘employee?’ What is […]