Can a superfund use assets to pay benefits?

Current as of December 2014 If a self-managed superannuation fund (SMSF) is asset rich, but cash poor it may be able to use its assets to pay benefits to its members. The term used for a non-cash benefit payment is referred to as an “in specie benefit”. This is where a SMSF pays an entitlement to a member by transferring … Read More

Employee share scheme proposed changes

Current as of October 2014 The former Government made changes in 2009 to the Employer Share Scheme rules that effectively brought the use of the scheme for start-up companies to a halt. The current Government has announced that they will reform the tax treatment of Employee Share Schemes to bolster entrepreneurship and support start-up companies and they will reverse the … Read More

Testamentary trusts – what are they?

Current as of July 2014 A “testamentary trust” is a trust created in your will, which only comes into existence upon your death. Your will needs to clearly summarise the rules of the” testamentary trust” that you are creating and for this reason it is imperative that a solicitor be used to draft your will. Testamentary trusts created by wills … Read More