The Government has withdrawn a measure to increase the maximum number of people who can be members of self managed superannuation funds (SMSFs) from 4 to 6.
What is “better” for paying out death benefits in a self managed superannuation fund (SMSF) - a binding death benefit nomination (BDBN) or trustee discretion? As a result of a number of cases, where BDBNs were found to be defective, trustee discretion was becoming a favoured method for some advisors.
In September 2016, an article written by Sladen Legal's Phil Broderick, Will Monotti and Ashleigh Eynaud was published in the Tax Institute’s Journal, Taxation in Australia.
This article addresses how trust deed variation clauses vary from trust to trust and gives examples of some of the problematic ones we’ve seen.