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Gift icons created by Freepik – Flaticon These days trust deeds (Deeds) of family discretionary trusts (FDTs) frequently allow a trustee of a FDT to distribute to a trust as a beneficiary (TAAB) where the TAAB has a beneficiary or beneficiaries in common with the FDT. So could it be that, once a named beneficiary of […]
Will a self managed superannuation fund (SMSF) investment in an overseas apartment or investment property open up assisted overseas travel opportunities for the members of the SMSF? Can or should the SMSF reimburse the members who travel to an overseas residential property (ORP) to improve, maintain or to get the ORP ready for letting, for […]
There is more to investing in real estate together with a self managed superannuation fund (SMSF) than meets the eye. It can be fraught and illegal under SMSF rules. This blog looks at why. Joint tenancy ownership compared to ownership by tenants-in-common The title of this blog piece does not refer to investing jointly with […]
Usually but the answer is nuanced. It is often claimed that a trustee exercising a discretion [Discretion] to favour himself/herself/themselves/itself (HHTI) as a beneficiary of a family discretionary trust (FDT) is acceptable but legal authority for the claim isn’t given. Even the Australian Taxation Office distills the proposition to a sentence. They say: The trustee […]
Trusts and land tax in NSW To protect the integrity of land tax: so no advantage is given to trust owned land that can’t be treated as owned by a taxable person viz. an individual or a company; and by means now also similarly adopted in other jurisdictions, notably Victoria (trust surcharge rate applicable mainly […]
The Commissioner of Taxation’s longstanding practice as to when an unpaid present entitlement (UPE) of a private company beneficiary of a trust will give rise to a deemed dividend under Division 7A of the Income Tax Assessment Act 1936 has been dismantled by the Administrative Appeals Tribunal (AAT) in Bendel v. Commissioner of Taxation [2023] […]
Perils travelling to your SMSFs overseas residential property @Ausbiz @ipaaccountants #smsf @SolePurposeTest
Thinking of investing in residential property with your SMSF as a tenant-in-common? There's more to it than meets the eye. It can be fraught and illegal under SMSF rules #TaxTwitter @Ausbiz @ipaaccountants #superannuation #smsf #tenantsincommon
When can a trustee favour itself as a beneficiary of a family discretionary trust? More nuanced than you might think #TaxTwitter @Ausbiz @ipaaccountants
#trusts #discretionarytrusts
The Land Tax Management Act and Revenue NSW take an odd ball approach to working out when a fixed trust is not a special trust for NSW land tax #TaxTwitter @Ausbiz @ipaaccountants #landtax #trusts
