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16/01/2017

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

  Superannuation Testamentary Trust v’s Superannuation Proceeds Trust Super Proceeds Trust Adjunct Professor, Dr Brett Davies invented Superannuation Testamentary Trusts on 1 May 1994. Superannuation Proceeds Trusts are a poor copy of the Superannuation Testamentary Trusty. Superannuation Death Duties – 32% tax on your Superannuation at death When Mum and Dad […]
12/01/2017

Why I sold Law Central – it was not a law firm.

I founded and created the Law Central website in 2000. It was the first Australian website allowing you to build legal documents online. However, it was not a law firm. I sold it. I no longer have any involvement with Law Central. Accountants and advisers told me that they, instead, […]
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 […]
11/01/2017

Lawyer Will storage like Fort Knox – at Brett Davies Lawyers & Legal Consolidated

You spend a lot of time building a Will with Brett Davies Lawyers and Legal Consolidated Barristers & Solicitors. Don’t let storing your Wills and Power of Attorney be a haphazard affair. We have, like Fort Knox legal and fireproof safes to store our client’s Wills and Power of Attorney.   […]
10/01/2017

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, […]
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

&nbsp 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 […]