tax

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29/03/2016

Reversionary Pension to love child

Muriel’s husband died a few years ago. At 54 she fell in love again and was the oldest mother in her city. She called her love child Colin. Her two oldest children, Ian and Brian, are successful engineers. Muriel's assets are all in her Self-Managed Super Fund. As the sole director […]
12/01/2016

Crowdfunding kills brokers – accountants and advisers take over

Bypassing the stockbroker, mum and dads, aided by the adviser and accountants can directly invest in public businesses and start-ups. The Crowd-sourced Funding Bill issues in a new stream of business for advisers and accountants to help Australians invest via equity crowdfunding. However, the proposed legislation is too restrictive. Only […]
04/01/2016

Tax by Stealth

Tax by stealth - the shameful growth of the Australian tax system The Australian tax system has changed significantly since the end of the 19th century. The six colonies raised the bulk of their tax revenue from selective customs and excise duties. The original design of the tax systems of […]
02/12/2015

Accountants’ Exemption – who advises on your Super fund now?

(The link to the original Accountants' Exemption paper is here) Self-Managed Super Funds are big business - and still so after the Accountants' Exemption The number of SMSFs continues to increase. According to the ATO there were just over 528,000 SMSFs. There is $529 billion in assets. It is a big market. […]
28/10/2015

How to get UK pensions into an Australian Super fund

Getting UK pensions into an Australian Self-Managed Super Fund Many of us have UK pensions. From 6 April 2015, the conditions that an Australian superannuation fund (pension scheme) must satisfy to register with Her Majesty's Revenue and Customs (HMRC) as a qualifying recognised overseas pension scheme (QROPS) has changed. The […]
22/10/2015

Dr Brett Davies’ Thesis – Business Succession Planning

Business Succession Planning Quick links: Dr Brett Davies' thesis - Click here Business succession planning manual - Click here Estate planning manual - Click here Business Succession Planning Question: Dear Dr Davies, I am a financial planner specialising in business risk. I was hoping that you would make available your PhD thesis on […]
21/10/2015

Binding Financial Agreements – legally binding?

Thank you for your interest in Binding Financial Agreements (BFAs). BFAs are also referred to as ‘prenuptial agreements’, ‘prenups', defacto agreements and Superannuation Agreements (restricted to just Super). They are available before, during and after marriage. They are available to de facto couples that never intend to marry. They include […]
19/10/2015

SMSF Joint Tenants vs Tenants in Common

SMSF Joint Tenants vs Tenants in Common - Which is better? Question: SMSF Joint Tenants vs Tenants in Common is a common discussion. I agree that Joint Tenancy is generally dangerous because of the CGT regime as per your previous PRUDENCE (2nd Edition) article. However, should Trustees in an SMSF own […]