The increased global mobility of individuals and online transactions, together with the deregulation of financial markets and exchange controls since the 1980s, mean that cross-border estate tax issues are, in many instances, “the new black”.

Upon the death of a member of a self managed superannuation fund (SMSF), the member’s benefits in the SMSF must be cashed ‘as soon as practicable’ after the member dies under regulation 6.21(1) of the Superannuation Industry (Supervision) Regulations 1994.

In this two-part article, we explore two recent cases that provide guidance on when a declaration of trust will be a dutiable transaction.

Taxation issues will regularly arise in the family law context, especially in those cases that involve the division of property.

A recent Full Federal Court decision reflects the diversity of issues which can arise in the complex world of discretionary trusts.

This paper examines a number of current and topical issues in relation to limited recourse borrowing arrangements (LRBAs), including:

Legislation passed on 17 June 2020 has amended the ITAA36 to change the taxation treatment of distributions of income from testamentary trusts to minors.

This article discusses the challenges of rectifying mistakes in trust deeds by way of a deed of rectification, particularly in the context of tax disputes involving revenue authorities.

Restructuring and CGT roll-overs: tips for Advisors Slide Overview

1. Roll-overs Relief 101;

The trustee of a discretionary trust may benefit those who fall under the definition of “beneficiaries” in the trust’s deed. Sometimes, the scope of that definition is unclear.

Many business owners may be considering a restructure, merger, or demerger in the current economic environment to adapt, sustain, or promote growth in these tumultuous times. A change in a corporate structure typically entails either the change of ownership interests in the entire business or the transfer of specific assets of the business.

Event Based Reporting Obligations for the transfer balance cap using TBAR

1. Succession planning – recent cases on BDBNs

Advising clients on business structuring requires the consideration, and assessment, of the factors that should be considered when a client is about to commence the operation of a business.

This article looks at the scope of the definition of the term “beneficiary” in a discretionary trust deed, and, in particular, examines the ambiguities that sometimes arise in relation to the terms “spouse” and “child” within that definition

SMSFs (self managed superannuation funds) have been carrying on property development activities ever since SMSFs came into existence. Yet despite that there is still a common concern that such activities will cause the SMSF to become non-compliant, or subject to penalties, on the basis that such activities, and in particular undertaking a property development business, are prohibited.

SMSFs (self managed superannuation funds) have been carrying on business and business like activities ever since SMSFs came into existence. Yet despite that there is still a common concern that such activities will cause the SMSF to become non-compliant, or subject to penalties, on the basis that such activities are prohibited.

Self-managed superannuation funds and bare trusts — investment in the underlying asset or in-house asset issue?

Members and trustees of self managed superannuation funds (SMSFs) will sometimes become estranged because of disputes involving their family or business relationships.

This article looks at what determines the tax residence of a trust and what the consequences can be from a change of tax residence.

Where the trustee is unable or unwilling to vary the identity and/or powers of the appointor, the court may intervene.