A recent decision by the Full Federal Court around a man’s tragic death by suicide clarified the standing of a de facto spouse in the context of a non-lapsing death benefit nomination on a life insurance policy made by the deceased person. Just prior to C’s death in September 2019 the death benefit under his […]
Breaking Up by Text: Legal Implications for Non-Lapsing Death Benefit Nominations Read More »
SMSFs acquiring assets from related parties SMSFs cannot acquire an asset from a ‘related party’ (such as a member or their spouse or relative) unless it is acquired at market value and is: If the asset is acquired at less than market value (including any ‘in specie’ contribution value), the difference between the market value
Self-managed super funds (SMSFs) are now firmly embedded in Australia’s superannuation system, attracting a wide range of individuals who prefer to control their retirement savings. But who exactly is drawn to running their own fund, and why? SMSF Member Profiles SMSF members are typically motivated to manage their own super investments. According to a report
What type of people have SMSFs? Read More »
NSW Revenue has issued an warning that it is currently the target of a SMS, email and letter scam that is using Revenue NSW branding. This scam is deceitfully using NSW Revenue and Service NSW branding to solicit payments for fraudulent fine notices. The NSW Revenue is currently experiencing high volumes of calls due to
NSW Revenue Scam Warning: SMS, Email and Letter Alert Read More »
The capital gains tax (CGT) exemption for your main residence, combined with several useful concessions, can greatly influence your financial situation. These exemptions and concessions can help homeowners navigate the complexities of property ownership and potentially save a significant amount of money. Let’s explore some of the main concessions and how they work: 1. Changing
Unlocking the Benefits of CGT Main Residence Exemption Concessions Read More »
