Articles by Todd Wills

Administration, SMSF, Tax

$3m cap adds to divorce complexity

Divorce Division 296 tax SMSF Withdrawals Contributions Earnings calculation

Calculating a final financial position in the event of a divorce may become more difficult when the Division 296 tax is introduced.

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ETFs, Investments

Betashares debuts bank bond ETF

BSUB Bonds Banks ETF Betashares

Betashares has unveiled Australia’s first pure-play tier 2 bank credit exchanged traded fund offering access to bonds issued by large Australian banks.

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Administration, Estate Planning, SMSF

Caution needed with multi-purpose deeds

SMSF Will BDBN binding death benefit nomination Deed DBA Lawyers SMSF

SMSF practitioners should carefully examine deeds that are designed with multiple features as these could potentially complicate estate planning matters for a fund.

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Legislation, SMSF, SMSFA, Tax

Div 296 will hit more than 3500 farms

Division 296 tax Farms SMSF Primary production land Indexation

The SMSF Association has presented data to a Senate committee suggesting over 3500 farms will be impacted when the $3 million soft cap is introduced.

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Insurance, Regulation, SMSF

Insurance consideration ineffective

Life insurance SMSF Liability Investment strategy

The number of SMSFs holding life insurance appears to not have increased significantly since the introduction of a requirement to consider these policies as part of a fund’s investment strategy.

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Auditing, Compliance, In-house assets

ASIC check crucial for IHA compliance

ASIC register in-house assets Related party Auditor SMSF

To avoid running into in-house asset issues, auditors should review company details held on the ASIC register to determine if an SMSF is dealing with a related party when conducting a transaction.

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Legislation, Property, Superannuation

Super for housing policy counterproductive

Association of Superannuation Funds Australia Super Members Council Super for housing Andrew Bragg

Enabling access to superannuation funds to aid first-time homebuyers will drive up house prices and lock those with smaller super balances out of the market.

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ETFs, Investments

Global X unveils gold bullion ETF

Global X Gold Bullion ETF Global X Gold ETF

Global X has broadened its ETF offering by introducing a second fund focused on physical gold, featuring the market’s lowest management fee.

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Death benefits, Estate Planning

BDBNs can mitigate partiality risk

Conflict of interest Will Estate BDBN Death benefits

Trustees have two options to minimise the risk of legal challenges regarding conflicts of interest while managing an estate and determining the distribution of death benefits to beneficiaries.

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Administration, Compliance, Pensions

Beware excess TBC tax trap

Transfer balance cap Excess transfer balance cap Notional earnings Retirement phase Commutation Pension

Exceeding the personal transfer balance cap will raise an additional tax liability for trustees when they intend to take a pension income stream.

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