In Parts 1-4 of this series, we discussed the landholder duty provisions, with a particular focus on Victorian landholder duty. In this part we continue to delve into the complex landholder provisions, with a focus on the principle of an acquisitions of economic entitlement.
Sladen Legal’s Daniel Smedley, Neil Brydges and Phil Broderick have received recognition in the 12th Edition of The Best Lawyers in Australia. The list of impressive legal professionals was announced in the Australian Financial Review on 22 March 2019.
This is Part 4 of a series of articles by our State Taxes Team on landholder duty and deconstructs the complex provisions by providing a snapshot on landholder duty and its application with regards to private entities.
This is Part 3 of a series of articles by our State Taxes Team on landholder duty and deconstructs the complex provisions by providing a snapshot on landholder duty and its application with regards to private entities.
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 a recent case of Nifuno Pty Ltd atf Stephen Forbes Pension Fund v Chief Commissioner of State Revenue  NSWCATOD 3, the NSW Civil and Administrative Tribunal (NCAT) considered the application of an available duty concession for the transfer of property in connection with persons changing superannuation funds, including self-managed superannuation funds (SMSFs).
Treasury Laws Amendment (2018 Measures No. 4) Bill 2018 has now passed both houses of parliament. The Bill includes the following measures to increase the ability of the ATO to enforce the super guarantee laws.
The decision of Burgess v Burgess is another case which considers conflicts of interest in the context of paying super death benefits. It follows a number of recent similar cases, including Re Narumon Pty Ltd, Brine v Carter and McIntosh v McIntosh. The strong consistent theme across all of these cases is that the Courts will strictly uphold fiduciary duties (even if they have “unfair” outcomes).