Townsends Business & Corporate Lawyers

29/11/2016

http://www.nestegg.com.au/from-the-experts/q-a/10460-a-step-by-step-guide-to-winding-up-an-smsf?utm_source=Nestegg&utm_campaign=29_11_16&utm_medium=email&utm_content=3

21/09/2016

Generally, you can’t carry over any unused balance from the bring-forward rule once 1 July 2017 rolls in. - https://www.supercentral.com.au/social22091

25/08/2016

http://www.professionalplanner.com.au/featured-posts/2016/08/25/estate-planning-for-planners-how-to-get-in-and-charge-48690/?utm_medium=Email&utm_source=ExactTarget&utm_campaign=PPO903

Anybody who has had a job in the past 20 years will need estate planning, due to the simple fact that they will have super. Peter Townsend writes how financial planners can get involved and profit.

23/08/2016

CBA has been successful in the Beck Appeal: Mr Beck did not have an accrued right to the discretionary early retirement benefit. [2016] NSWCA 218 - https://www.supercentral.com.au/social240816

22/08/2016

The ATO is encouraging everyone to find their ‘lost super’. Hard-earned super gets eroded away by fees when its sits lost and forgotten - https://www.ato.gov.au/Media-centre/Media-releases/New-data-reveals-postcodes-with-most-lost-super/

New data reveals postcodes with most lost super With new data revealing $11.7 billion is sitting in lost super accounts, the ATO is encouraging all Australians to reconnect with their super using its online services. The ATO has today released its latest lost and unclaimed super data. Deputy Commiss...

19/08/2016

https://www.adviservoice.com.au/2016/08/every-smsf-member-needs-put-place-enduring-power-attorney-epoa/

You may have seen coverage in the news of the Women and SMSFs report, jointly released by the CBA and the SMSF Association, indicating that more than half of SMSF members do not have an up-to-date Will or a succession plan. The research report surveyed 801 SMSF trustees, as well as 535 individuals w...

12/08/2016

REST case – recognition that not-for-profit trustee has its own interests –which may conflict with the members interests. - https://lnkd.in/bCqjvWa

11/08/2016

http://www.superreview.com.au/news/smsf/federal-court-fine-sets-new-smsf-benchmark?mkt_tok=eyJpIjoiWkRObU1XSTNOVEJtTldJNCIsInQiOiJwMk8rMG41NTZ3NExQaWJZMVNPbnRKZU1mYm5OejVZZ2E4VExZU3hjdUxyT2ZZZ2hxTEFuNlI5UDUyQXgrVUNxdWpzVlloajlHZ0tPMngrS09UQnpBXC9ndm5LdVpCWk0ycytCaVJlek1Sd009In0%3D

Using a self-managed superannuation fund as a virtual ATM costs trustee $40,000 plus $14,000 in costs.

10/08/2016

Court held that a death benefit paid to a bankrupt surviving spouse is protected from her trustees in bankruptcy. [2016] FCA 846 - https://www.supercentral.com.au/social100816

09/08/2016

Decision in REST Case given in a 162 page judgement. Court approves variation to trust deed to effectively validate previous trust deed amendments: [2016] SASC 121 - https://lnkd.in/bSWaWr9

07/08/2016

SMSF Trustee fined $40,000 for 30 separate breaches of SIS Act & ordered to pay $14,000 in costs. Rodriguez [2016] FCA 860 - http://supercentral.com.au/social080816

03/08/2016

The grace period is over and compliance with the client identification requirements for property dealings is now mandatory. - http://www.townsendslaw.com.au/blb-news/597/new-rules-about-identifying-clients-involved-in-property-transactions/

1 May 2016 a new set of rules came into place in various States about client identification for the purposes of registration of property dealings. The transitional period ends on 1 August. These new requirements add a whole new layer of inconvenience and cost so clients and advisers need to understa...