Latest News

13th Nov 2018

Be careful making improvements to SMSF leasehold business premises!

Many SMSFs lease business real property to related parties (since such a lease can be excluded from being an in-house asset of the fund – refer S.71(1)(g) of the Superannuation Industry (Supervision) (SIS) Act 1993).

24th Oct 2018

Binding death benefit nomination extended by attorneys

The Supreme Court of Queensland has ruled that a superannuation binding death benefit nomination (BDBN) executed under an enduring power of attorney (EPOA) was effective to confirm and extend the member's previous BDBN, but would be an invalid "conflict transaction" if the attorneys attempted to vary the BDBN.

6th Sep 2018

First Home Super Saver scheme – ATO guidance

The ATO recently issued Law Companion Ruling LCR 2018/5 to provide guidance on the first home super saver (FHSS) scheme.

14th Aug 2018

Excess super contributions tax upheld despite “special circumstances”

In a recent decision, the AAT has upheld the Commissioner's decision not to disregard or  re-allocate a taxpayer's excess non-concessional contributions.

13th Aug 2018

What happens when a member of an SMSF loses capacity?

Unfortunately, there are circumstances whereby a member of an SMSF may lose mental capacity, e.g., as a result of suffering a stroke, or acquiring a brain injury in a car accident.