Estate Planning

Is your SMSF’s Estate Plan up to speed?

A recent survey of SMSFs revealed that estate planning is the highest unmet need for advice, estimated to affect 59,000 funds which equates to about 10% of the total number of SMSFs in Australia. Given demographic trends and the continued growth of SMSF numbers in Australia, this advice gap looks set to rise over time.

ATO issues further guidance on Related Party borrowing LRBAs

ATO issues further guidance on related party borrowing (LRBAs)

On issuance of the Practical Guidance in June this year for related party borrowings, the ATO acknowledged that further information was needed.

Recently, the ATO released Tax Determination 2016/16 which dealt with the subject of when a limited recourse borrowing arrangement has not been entered into on arm’s length terms.

6 reasons to update your SMSF trust deed

With the amount of changes to superannuation in the last five years it’s essential that your SMSF has a robust, good quality trust deed.

Although the rate of actual law changes has slowed in the last few years, there have still been numerous rulings, cases and new strategies developed which require an up to date SMSF trust deed to protect your interests and get the most from your SMSF.

Anti-detriment strategies in practice

In Chloe Ward’s article from November 2014 – Creating a super legacy – we introduced a not so simple, but extremely valuable strategy known as the anti-detriment strategy.  In this article we will explore the strategy in more detail, with a practical example of course,

Creating a super legacy

As the average balance of self-managed super funds edges ever closer to $1 million, the need for a comprehensive succession or estate plan for your SMSF becomes absolutely critical. We have identified estate planning as the number one thing where trustees of SMSF are being let down.

Binding Death Benefit Nominations – more than just filling in a form


Estate Planning is a crucial component to the management of your superannuation assets. In light of this, attention to Binding Death Benefit Nominations (BDBNs) should surpass ‘just filling in a form’.

Like a Will for your assets outside of super, a BDBN is a formal declaration by a member indicating in,

Changes to Centrelink treatment of SMSF pensions

Starting on 1 January 2015 Centrelink will apply a different income assessment to account based pensions (sometimes also called allocated pensions). Previously the income counted for the Centrelink income test was calculated by the formula ‘Purchase Price/Life Expectancy = annual exempt income’. So an account based pension of $300,000,

Wills and SMSF estate planning

SMSFs are the investment vehicle of choice for a huge number of Australians – which is no surprise considering the control and flexibility they offer. Although most of us ensure we have valid death benefit nominations in place covering our superannuation monies, we need to ensure these nominations are also integrated with our personal Wills to form an overall estate plan.