News : Trusts

Compliance, LRBA, SMSF, Trusts

Avoid LRBA structure short cuts

A bare trust should be the first and only option in which to house an LRBA-purchased asset as lenders and lawyers will reject other structures.

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Documentation, Trusts

Trustee appointment in death not equal

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, Trustee appointment, deceased member, executor, director corporate trustee, Accurium, Jason Hurst, ATO guidance

The appointment of individuals to act as trustees in place of a deceased SMSF member does not have to be performed in a proportionate manner.

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Property, SMSF, Trusts

13.22C trust utility overrides its complexity

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, 13.22C unit trust, restrictions, ownership of assets, BT, Bryan Ashenden, property, investment

While 13.22C trusts are complex, their use inside an SMSF can provide trustees with more flexibility around the use of underlying assets.

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Death benefits, Trusts

Unit trust bypass of SMSF unwise

self managed super, self managed superannuation, SMSF, transactions, payments, unit trust, death benefits, Accurium, Lee-Ann Hayes, Mark Ellem, SMSF Professionals Day 2025

Unit trust distributions to SMSFs should be executed in the cleanest way possible, especially when death benefits are involved.

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ATO, Regulation, Superannuation, Trusts

High Court can hear Bendel appeal

self managed super, self managed superannuation, SMSF, ATO, High Court appeal, unpaid present entitlements, UPE, Federal Court, Commissioner of Taxation v Bendel, unit trusts, loans, Division 7A, financial accommodation

The High Court has granted leave for the ATO to appeal the Bendel case decision related to the treatment of unpaid present entitlements.

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Documentation, Investments, Trusts

Past borrowings okay for 13.22C trusts

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, unit trust, SIS Regulation 13.22C, gearing, Accurium, Anthony Cullen, in-house asset rules, borrowings, SMSF Determination 2008/1

A unit trust or company can have previously employed a borrowing arrangement and still allow for an exempt SMSF in-house asset investment under SIS Regulation 13.22C.

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Documentation, Estate Planning, Trusts

Trustee death requires creative response

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, wind-up, Heffron, Annie Dawson, executor, director, corporate trustee, enduring power of attorney, EPOA, section 17A, SIS Act, Sean Johnston

When the sole director of a corporate trustee dies, advisers will need to consider what options are available to allow the fund to be wound up.

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Administration, ATO, SMSF, Superannuation, Trusts

SIS Act main declaration retention guide

ATO, DBA Lawyers, Shaun Backhaus, self managed super, self managed superannuation, SMSF, SIS Act, SMSF trustee declaration, retention, guidance, Auditing and Assurance Standards Board, Guidance Statement 009, ATO QC 63436, declaration form, NAT 71089-06.2021

Official guidance on how long an SMSF trustee declaration should be retained differs from the letter of the law which should be the sole guide on this issue.

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ATO, Tax, Trusts

ATO steadfast on UPEs post-Bendel

unpaid present entitlements, UPE, ATO, Louise Clarke, Bendel,

The ATO will not change its stance on the treatment of unpaid present entitlements from unit trusts while waiting on an appeal against the ruling delivered in the Bendel case.

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Compliance, Trusts

Trustee duties go beyond the deed

SMSF trustees must keep in mind the SIS Act dictates their responsibilities in running a fund go beyond those contained in the trust deed.

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