Are you ready for the 1 July 2017 super changes?

Part 3: Interaction of the $1.6m pension transfer cap and death benefit payments In last month’s Part 2 of the super changes newsletter, “I have more than $1.6m in pension phase so what are my options?”, we discussed the $1.6m Transfer Balance Cap (“TBC”) and “Transfer Balance Account (“TBA”). Not only does this TBC affect members who are currently receiving … Read More

NSW Property Surcharge on Discretionary Trusts

If you have a Discretionary Trust (commonly known as Family Trust) and you have residential properties located in NSW within your Trust, then we suggest that you read this article in full. The NSW Government has recently made changes to the definition of “foreign persons” for the purposes of assessing duty and land tax liabilities. If you have a Discretionary … Read More

Buy-Sell Agreements – What are they and what are the benefits?

A buy-sell agreement is a legally binding document between the key persons in a business (i.e. the business partners). It acts as a succession planning tool to protect the business interest for each of the key persons in the business, and provides legal certainty for the families or estates of each of the key persons. It allows executors access to … Read More

2016 Federal Budget Superannuation reforms – the next steps

Last month the government had its first sitting of Parliament since the election and though they released some draft legislation for comment, we expect more changes in the forthcoming months of this superannuation reform journey. Latest proposals The annual limit of Non-Concessional Contributions (‘NCCs’) will be reduced to $100,000 from the current cap of $180,000 from 1 July 2017. No … Read More

Do you have an unwanted Family Trust?

A Trust is a relationship where the Trustee holds assets on behalf of beneficiaries. Sometimes the Trustee or the beneficiaries may want this relationship to end. For example, when the assets no longer exist, when the beneficiaries are old enough to look after their own assets, due to a family dispute, ill health, or administration costs. Or sometimes the Trust … Read More

Should your Family Trust have a Corporate Trustee or an Individual Trustee?

Family Trusts can provide significant benefits for asset protection and tax minimisation, and as a result there has been significant growth in the number of Family Trusts. Family Trusts must have a Trustee. But should the Trustee be a company or an individual? This question is important for asset protection and succession planning. Under Trust law, a Trustee is personally … Read More


You may have read in the financial press about the changes that will be happening from 1 July 2016 in the SMSF advice area. From 1 July 2016 new laws will come into play and accountants will no longer be able to give clients advice about SMSFs (Self Managed Superannuation Funds) unless they hold an Australian Financial Services licence (“AFS … Read More


How does the work test apply? If you are under 65, you are able to contribute to your superfund without having to satisfy a work test. If you are 65 or over, then your super fund will not be able to accept your contributions (either concessional or non concessional) until a work test is met. The work test is satisfied … Read More

Testamentary Trust – what is it and should I have one?

A Testamentary Trust is a trust established under a Will and it only comes into operation after the death of the person who has made the will (the Willmaker). There are many factors to consider in deciding whether to set one up. Our article covers a few of these factors. The key factors to consider in deciding whether to setup … Read More