News : Trusts

Administration, Trusts

Corporate trustee no longer costly

corporate trustee, SMSF, Self-managed superannuation, Cost, fee, Australian Securities and Investments Commission, Accurium, Matthew Richardson, special purpose company

Setting up a special purpose company to act as trustee for an SMSF is no longer as costly as it once was with regard to ASIC fees.

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SMSF, Trusts

Corporate trustee shareholders key

SMSF Self-managed superannuation corporate trustee company directors company shareholders Accurium Mark Ellem estate planning

Practitioners need to act with caution when appointing the shareholders of the SMSF corporate trustee company in the absence of any relevant rules.

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ATO, Pensions, SMSF, Superannuation, Tax, Trusts

Pension phase negates fee deductions

An SMSF with only a pension phase interest is unlikely to be able to claim a tax deduction for an accounting fee charged to the fund.

An SMSF with only a pension phase interest is unlikely to be able to claim a tax deduction for an accounting fee charged to the fund.

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financial advice, Legislation, Regulation, SMSF, Superannuation, Trusts

Proof of transaction terms a concern

The procedures of SMSF auditors pertaining to transactions conducted at arm’s length have been recognised as an area of regulatory concern.

The procedures of SMSF auditors pertaining to transactions conducted at arm’s length have been recognised as an area of regulatory concern.

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Administration, SMSF, Superannuation, Trusts

ATO issues annual return reminder

SMSF trustees have been reminded to lodge their SMSF annual return with the ATO’s February deadline drawing closer.

SMSF trustees have been reminded to lodge their SMSF annual return with the ATO’s February deadline drawing closer.

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Trusts

Trust distribution recognition key

Understanding the accounting method an SMSF should apply to unit trust distributions is critical to producing accurate financial statements.

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Property, SMSF, Trusts

New rules diminish declarations of trust

SMSF Self-managed superannuation Declaration of trust Asset ownership Stamp duty ATO ASF Audits Shelley Banton

The use of a declaration of trust to deal with the ownership of SMSF assets has been undermined by ATO guidance and legislative changes.

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SMSF, Trusts

SMSFs with unrelated parties unwise

Phil Broderick Unrelated parties SMSF Self-managed superannuation Sladen Legal

The establishment of an SMSF incorporating unrelated parties for joint investments is ill-advised and can complicate member disputes.

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LRBA, Trusts

Single LRBA can acquire several assets

LRBA 13.22C Property Self-managed superannuation SMSF

An LRBA can be used to acquire multiple properties for a development project, but this approach may raise additional compliance risks.

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BDBNs, Tax, Trusts

BDBNs may hinder estate plans

BDBN Superannuation proceeds trust Binding death benefit nomination SMSF

A BDBN may not always be the best option for handling superannuation death benefits as it can lack the flexibility a trust structure provides.

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