Nautilus Law Group

09/03/2025

As a consequence of severe flooding, our offices will remain closed on Monday. Most staff have no access to power at their homes; accordingly, they cannot access emails or phone calls. We will re-assess whether it is safe to open the offices on Tuesday. Thank you for your patience and stay safe.

07/10/2024

In this decision, an Australian law firm "engaged" a paralegal in the Philippines. The law firm terminated the Philippine paralegal's services, and the paralegal pursed an unfair dismissal proceeding. The law firm argued that the paralegal was a contractor and not an employee, the Tribunal found otherwise based on the nature of the relationship and arrangements between them.

Although changes in law seem to suggest that parties can contract out of such arrangements, if the arrangement is a sham at its core - the arrangement is still capable of being setting aside.

We are not employment lawyers - but as superannuation advisors we wish to remind employers that the penalties for underreported and paid superannuation can attach to directors (including quasi directors) individually. The liability is not trapped in the business structure.

If you need assistance with understanding your superannaution reporting obligations, please feel free to reach out to your team at Nautilus Law Group at [email protected] or arranging a call on 07 5574 3560.

30/09/2024

This is a decision which is hard to stomach. Spouses - one died (Spouse 1) - one survived (Spouse 2). Superannuation trustee wanted probate to be granted in order to pay superannuation death benefit. Spouse 2 applied for probate, but died before the superannuation trustee paid the death benefit. So, Spouse 1 superannuation death benefit paid to Spouse 1's estate and then passed to the deceased estate of Spouse 2, as Spouse 2 was deceased by that time.

ATO says - superannuation death benefit is taxable as being paid to a "non tax dependent" because Spouse 2 was not alive at the date of payment, and merely being the beneficiary of Spouse 1's estate was not enough if Spouse 2 died before receiving the benefit.

So, the delay caused by the superannuation trustee demanding probate resulted in a tax being incurred in circumstances in which it would not have otherwise applied - as Spouse 2 had applied for the payment of the death benefit of Spouse 1 during Spouse 2's lifetime.

By the terms of Spouse 1's Will, Spouse 2 was entitled to the payment of the superannuation death benefit - and that would have resulted in a tax free payment. BUT, merely because the superannuation trustee did not pay that death benefit to Spouse 1's estate before the death of Spouse 2, it lost that tax free benefit.

A superannuation death benefit paid to a deceased estate will not be treated as if it was paid to a death benefit dependant, according to a recent private binding ruling.

30/09/2024

SMSFs are an exceptional investment option - but they are not without complication. In addition to the restriction against non-arm's length dealings, trustees need to be aware of specific restrictions preventing the acquisition of certain services and goods from related parties of the fund - full stop. So, just because one section of the Superannuation Industry (Supervision) Act 1993 (Cth) (SISA) says - it is possible to deal with related parties of the SMSF in the investments of the SMSF, does not mean that the SISA permits the actual investment arrangement.

As SMSF advisors, we love the complicated. But we breathe easier, when we find the compliant.
Katrina Brown

The definition of arm’s length dealings is not as straightforward as it seems, a technical expert has said.

23/09/2024

The ACCC is suing Woolworths and Coles over alleged misleading pricing practices. It will be interesting to see how the case plays out. Australian shareholders of Woolworths and Coles have enjoyed healthy returns, whilst the majority of Australians have suffered under the burden of significant increases in food costs.

20/09/2024

Family wealth maintained in discretionary trusts is common...unfortunately, the battle over who has the right to that wealth is one that is run in a number of forums - including but not limited to the patriarch's or matriarch's deceased estate or in family law proceedings by one or more non-bloodline "family" members. There is no one "sit and forget" strategy that works, and there are loopholes for accessing trust records which can be triggered. This article nicely discusses many of the issues our practitioners face in dealing with enquiries of trustees (righteous or not).

The ability of beneficiaries to access the records of a discretionary trust is becoming one of the key trust-related areas subject to ever-increasing attention and court applications, says a legal expert.

09/05/2024

Great! We pay for Read which transcribes Zoom meetings and sends our client reports. It also records conferences for evidence basis, should we ever need it to clarify instructions in an estate dispute. This is the cover of the report! Nothing screams professional like this.

17/12/2023

WE WILL OPEN MONDAY: Those of our team testing negative to Covid will be opening the office from Monday. We apologise for the inconvenience of last week and thank you for your patience. Have a lovely week.

13/12/2023

NOTICE OF CLOSURE: NAUTILUS LAW: all staff of Nautilus Law Group have tested positive for Covid and are unwell. The firm will be closed until Thursday; however, possibly the week.

Let's all remember that it's just not fair on your community if you are out and about unwell - with any transmittable illness. Take time at home to recover. Your decision effects many.

31/05/2023

We have finally moved!

We are pleased to announce our relocation to Unit 4, 37-41 Commerce Drive, Robina Queensland 4226. Our new postal address is PO Box 400, Varsity Lakes Queensland 4227.