Recent decisions of the Victorian Supreme Court have confirmed that the consequences for trustees are potentially disastrous if trust documentation is mislaid and cannot be located.

Discretionary trusts are common structures for family businesses. How do we effectively transition these structures to the next generation?

This workshop will use case studies to explore some of the unique SMSF issues that may arise through investing via unit trusts including:

The structure of a self managed superannuation fund (SMSF) is often based on a family unit. A very common SMSF structure is, for example, two spouses as the members and trustees/directors of the corporate trustee.

Non-arm’s length income (NALI) has been a hot topic of discussion and debate in the SMSF industry in recent years, in particular since the ATO first released their draft ruling on non-arm’s length expenditure (NALE) in 2018 (and its subsequent iterations).

Issues covered in this paper:

1. SMSFs acquiring digital assets

2. Ownership of digital assets

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.

Does context and purpose narrow the reach of s 100A of the Income Tax Assessment Act 1936?

In addition to the “general” non-arm’s length income provisions, special rules apply to distributions from a trust to a complying superannuation fund.

This article aims to clarify some of the uncertainties and difficulties that arise on the appointor or guardian of a discretionary trust losing their decision-making capacity

Do the aggregation of interests in a landholding unit trust include exempt transfers?

Greensill confirms foreign beneficiaries of a resident discretionary trust are taxable on gains made on non-taxable Australian property. Was the outcome an unintended consequence of the 2011 changes?

Overview

• Revenue losses and application of PCG 2016/16

Main Themes for Workshop 2

• Tips and traps once residency is established

This workshop will use case studies to explore some of the unique SMSF issues that may arise through investing via unit trusts including:

A common misconception is that it is compulsory under the law for employers to make superannuation contributions on behalf of their employees.

To create an express trust, there must be certainty of intention, subject matter, and beneficiaries. In the absence of such certainty, will the trust fail?

This paper explains several recent legislative changes that affect real property

This paper explores the role of shareholder agreements in assisting with achieving estate and succession planning objectives for wealthy families.

Phil Broderick, Sladen Legal Principal presents on The ATO's Current views on conducting property Development through an SMSF at the CPA Australia City Taxation Discussion Group in August 2021.